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Van Eck launches US-listed Vietnam ETF


New York-based asset manager Van Eck Global has launched the Market Vectors Vietnam ETF on NYSE Arca.  

New York-based asset manager Van Eck Global has launched the Market Vectors Vietnam ETF on NYSE Arca.  

The fund provides investors with the first US-based exchange-traded fund offering exposure to the Vietnamese market by seeking to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors Vietnam Index. 

‘We are very pleased to offer US investors access to one of the world’s most interesting emerging markets. With approximately 70 per cent of the market cap of the underlying Index currently in locally-listed companies, this ETF offers investors convenient, one-trade access to a portfolio of Vietnamese companies,’ says Jan van Eck, principal at Van Eck Global (pictured). ‘While Vietnam is currently facing the pressures of inflation and current account deficits as well as the stresses of today’s global financial crisis, the country’s market reforms should help it regain its longer-term growth potential. We believe Vietnam’s young demographic and increasing integration into the world marketplace will continue to appeal to foreign investors.’

The Market Vectors Vietnam Index is calculated and maintained by Standard & Poor’s on behalf of 4asset-management. Currently, approximately 70 per cent of the market capitalization of the index is composed of securities of companies domiciled and primarily listed on an exchange in Vietnam and which generate at least 50 per cent of revenues from Vietnam; this percentage is expected to increase in the future. The remaining 30 per cent is comprised of offshore companies which generate, or are expected to generate, at least 50 per cent of their revenues from Vietnam, or that demonstrate a significant and/or dominant position in the Vietnamese market and are expected to grow. 

The index’s top sectors include financials (37 per cent of the index), energy (19 per cent) and materials (12 per cent).

The fund is the 21st ETF offered under Van Eck’s Market Vectors brand.

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