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Van Eck Global launches Market Vectors Indonesia ETF


New York-based asset manager Van Eck Global has launched Market Vectors Indonesia Index ETF, the first US ETF focused on Indonesia.

New York-based asset manager Van Eck Global has launched Market Vectors Indonesia Index ETF, the first US ETF focused on Indonesia.

It seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors Indonesia Index. The fund’s total net expenses are 0.71 per cent.

The fund provides a way of gaining exposure to the largest economy in south-east Asia and one of the most rapidly developing nations in the emerging markets universe.

The Market Vectors Indonesia Index is pure-play in focus, including many of the largest and most liquid companies that are domiciled and primarily listed in Indonesia, or that derive at least 50 per cent of their revenues in the country.

At the end of last year, the index contained 25 names, all onshore, and covered industries including banks, with an index weighting of 30.1 per cent, energy (15.7 per cent), telecommunications (12.7 per cent) and materials (11.4 per cent).

The top three holdings were Bank Central Asia (8.8 per cent), Telekomunikasi Indonesia (7.5 per cent) and Bank Rakyat Indonesia (7.0 per cent).

"Market Vectors is pleased to offer the first ETF focused on this key emerging market nation, which has made great political and economic strides in recent years," says Jan van Eck, principal at Van Eck Global. "Like all emerging markets, Indonesia is challenged by the current global economic climate, but its ongoing reforms should help sustain its longer-term growth potential."

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