Market Vectors Index Solutions has licensed the Market Vectors Global Agribusiness Index (MVMOOTR) and Market Vectors Global Solar Energy Index (MVKWTTR) to Van Eck Global.
With immediate effect MVMOOTR and MVKWTTR replace the previous index benchmarks of the Market Vectors Agribusiness ETF (MOO) and the Market Vectors Solar Energy ETF (KWT).
MOO is currently the largest US-listed agribusiness exchange-traded fund with USD5.7bn in assets under management.
“We are pleased to announce the licensing agreement with Van Eck,” says Lars Hamich, chief executive officer at MVIS. “Both hard assets indices are in consistency with the high quality standards applied to all Market Vectors Indices which are specifically built for ETFs. Our pure-play methodology concept offers truly representative exposure to the respective index targets. Sophisticated capping models avoid over concentration of constituents and offer well diversified indices. The most demanding liquidity screenings ensure that our indices are highly liquid, thus the ideal underlyings for ETFs.”
Market Vectors Global Agribusiness Index and Market Vectors Global Solar Energy Index are calculated as price and total return indices and are reviewed quarterly. Index history is available back to December 2006.