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Van Eck Global launches Market Vectors Poland ETF


New York-based asset manager Van Eck Global has launched the Market Vectors Poland ETF on NYSE Arca, expanding its family of emerging market country exchange-traded funds.

The fund seeks to offer investors pure-play exposure to Poland, the world’s 18th largest economy in 2008 as measured by GDP.

Poland has a growing consumer economy and strong domestic consumption which has fostered growth of domestic small and mid-cap companies. In addition, its relatively sustained foreign direct investment, limited exposure to volatile foreign markets, and sound economic policies have helped the country emerge from the recent economic crisis in a stronger position than many of its neighbours.

“Poland is the largest and fastest growing economy in Central and Eastern Europe,” says Jan van Eck, principal of Van Eck Global. “Poland’s economy has recently surpassed Belgium and Sweden and is one of the only economies in the CEE region to show positive growth this year. While this nascent economy certainly comes with its share of risks, we are pleased to offer an ETF that seeks to reflect the Polish stock market structure.”

The fund seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors Poland Index. The index had 26 constituents including Powszechna Kasa Oszczednosci Bank, Bank Polska Kasa Opieki and KGHM Polska Miedz as of 31 October 2009. Its top component sectors were financials (40.3 per cent of the index), energy (13.6 per cent) and industrials (11.0 per cent) and the index had a 60 per cent weighting in small and mid-cap stocks.

The fund is the 23rd ETF offered under Van Eck’s Market Vectors brand and joins the firm’s growing international equity line-up, which includes Market Vectors ETFs focused on Africa, Brazil Small-Cap, the Gulf States, Indonesia, Russia and Vietnam.

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