NEW YORK--(BUSINESS WIRE)--
Van Eck Global announced today that its subsidiary Market Vectors Australia has launched four new locally registered exchange-traded funds (ETFs) on the Australian Securities Exchange (ASX).
The four new Australian sector ETFs are the Market Vectors Australian Banks ETF, the Market Vectors Australian Resources ETF, the Market Vectors Australian Emerging Resources ETF, and the Market Vectors Australian Property ETF. These ETFs seek to track indices developed by Market Vectors Index Solutions (MVIS).
Australia’s $2.13 trillion managed fund market is the world’s third-largest and is dominated largely by the superannuation and rollover segments. Demand for exchange-traded funds in Australia has been expanding rapidly, recently reaching a record A$8.97 billion in assets, according to the September ASX Funds Monthly Update. As measured by market capitalization, the Australian exchange-traded product market has grown by 57 percent over the 12-month period ending in September 2013, with strong demand from self-managed superannuation funds (trusts created under Australian law to facilitate individual retirement savings). The use of ETPs by Australian financial advisors and their clients has also seen significant growth, with more growth expected as a result of the Future of Financial Advice reforms that became effective on July 1 of this year.
“We see a significant growth opportunity in Australia for our family of exchange-traded funds,” said Adam Phillips, Chief Operating Officer of Market Vectors ETFs. “The market is growing and many sectors of interest play to the firm’s core strengths. We believe that Market Vectors’ expertise in ETF product development will benefit Australian investors by way of increased and improved investment choices.”
In June 2012, Van Eck Global announced the commencement of operations of its wholly owned Australian subsidiary, which will develop and market ETFs in Australia.
Market Vectors ETFs were first launched in the U.S. in 2006. The firm now offers approximately 60 exchange-traded products spanning international markets, commodities, emerging markets, global equities, fixed income and currency sectors. Market Vectors has clients worldwide and has approximately $23 billion in assets under management as of September 30, 2013, making it the seventh largest ETP family in the U.S. and the 10th largest worldwide.
About Van Eck Global
Market Vectors ETFs are sponsored by Van Eck Global. Founded in 1955, Van Eck Global was among the first US money managers helping investors to achieve greater diversification through global investing. Today, the firm continues this tradition by offering innovative, actively managed investment choices in hard assets, emerging markets, precious metals including gold, and other alternative asset classes. Van Eck Global has offices around the world and managed approximately $32 billion in investor assets as of September 30, 2013.
About Market Vectors Index Solutions
Market Vectors Index Solutions (MVIS) develops, monitors and licenses the Market Vectors Indices, a selection of focused, investable and diversified benchmark indices. The indices are especially designed to underlie financial products. Market Vectors Indices cover several asset classes, including hard assets and international equity markets as well as fixed income markets and are licensed to serve as underlying indices for financial products. Approximately $11.7 billion in assets under management are currently invested in financial products based on Market Vectors Indices. The Indices are the exclusive property of MVIS. The ETFs are not sponsored, endorsed, sold or promoted by MVIS.
Market Vectors Australia and MVIS are wholly owned subsidiaries of Van Eck Associates Corporation (Van Eck Global).
This information has been prepared for general purposes and does not constitute investment advice or a recommendation or a solicitation of an offer to buy any investment products. The investment products referred to are intended to be made available to Australian investors and are not be available to U.S. investors.
Fund shares are not individually redeemable and will be issued and redeemed at their NAV only through certain authorized broker-dealers in large, specified blocks of shares called “creation units” and otherwise can be bought and sold only through exchange trading. Creation units are issued and redeemed principally in kind. Shares may trade at a premium or discount to their NAV in the secondary market.
Market Vectors Investments Limited ABN 22 146 596 116 AFSL 416755 (Market Vectors Australia) is the Responsible Entity of the Market Vectors Investments Australian Sector ETFs (ETFs). This information is general in nature and does not take into account your objectives, financial situation or needs (your circumstances). Before making an investment decision in relation to the ETFs you should read the current product disclosure statement (PDS) and with the assistance of a financial adviser consider if the ETFs are appropriate for your circumstances. The PDS is available at marketvectors-australia.com or by calling 1300 MV ETFS.
Van Eck Securities Corporation, 335 Madison Avenue, New York, NY 10017
- Van Eck Global
Mike MacMillan/Chris Sullivan