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SEC authorises Market Vectors Agribusiness and Nuclear Energy ETFs

New York-based investment manager Van Eck Global has announced that the Securities and Exchange Commission has declared effective the registration statement for the Market Vectors-Agribusiness

New York-based investment manager Van Eck Global has announced that the Securities and Exchange Commission has declared effective the registration statement for the Market Vectors-Agribusiness and Market Vectors-Nuclear Energy exchange-traded funds, which are expected to be launched on the American Stock Exchange later this year. Options are expected to be available on both ETFs.

The Market Vectors-Agribusiness ETF will seek to replicate as closely as possible, before fees and expenses, the price and yield performance of the DAXglobal Agribusiness Index calculated and maintained by Deutsche Börse.

As of July 27, the index consisted of the stocks of 40 publicly traded companies engaged in agriproduct operations, agricultural chemicals, agricultural equipment, ethanol/biodiesel and livestock operations. Companies in the index generally derive at least 50 per cent of their revenue from agribusiness.

The Market Vectors-Nuclear Energy ETF, billed as the first ETF of its type listed in the US, will seek to replicate the price and yield performance of the DAXglobal Nuclear Energy Index, also calculated and maintained by Deutsche Börse.

On July 27, this consisted of the stocks of 38 publicly traded companies engaged in uranium mining, enrichment and storage, nuclear plant infrastructure, fuel transportation and energy generation, and providing equipment for use in the provision of nuclear energy. Index member companies generally derive at least 50 per cent of their revenue from the nuclear energy industry.

Founded in 1955, Van Eck Global offers global investment in hard assets, emerging markets, gold and other precious metals, and other alternative asset classes. At the end of June, the company managed more than USD5.8bn in assets for individuals, insurers and institutional investors.

The two new ETFs will join five other Van Eck Market Vectors ETFs already in the market covering environmental services, global alternative energy, gold miners, Russia and steel, with a total of more than USD900m in assets under management as of June 30.

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