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Market Vectors launches Israel ETF


Market Vectors ETF Trust has launched the Market Vectors Israel ETF (ISRA), an exchange-traded fund designed to provide investors with broad exposure to Israel’s dynamic equity market.

“Israel is uniquely positioned to offer investors emerging market growth characteristics with a developed market approach to economic management,” says Amrita Bagaria, ETF product manager with Market Vectors. “The country has a vibrant economy with broad sector representation. With that in mind, we have selected an index for ISRA that best represents the Israeli market and captures the full spectrum of economic growth potential.”
ISRA seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the BlueStar Israel Global Index (BLSTR), a rules-based index of Israeli and Israeli-linked companies intended to track the overall performance of the largest and most liquid companies, as well as mid-cap and small-cap companies that display sufficient liquidity. To qualify for inclusion in BLSTR, a company must be listed, domiciled, or founded in Israel, or it must generate the majority of its revenues in Israel. Stocks in the index generally trade on the Tel Aviv Stock Exchange but also include Israeli-domiciled companies listed outside of the country.
“In designing the Index, we wanted to set a high bar for inclusion,” says Steven Schoenfeld of BlueStar Global Investors. “It was important that each constituent have a deep involvement in Israel’s growth. We believe we’ve been able to accomplish that, and we are pleased to provide the underlying index for ISRA.”
As of June 24 2013, the index’s top three sectors were information technology (representing 29.9 per cent of the holdings), healthcare (26.3 per cent) and financials (19.1 per cent).
ISRA is the latest addition to Market Vectors’ family of international equity ETFs, which also includes the Indonesia Index ETF (IDX), Indonesia Small-Cap ETF (IDXJ), Brazil Small-Cap ETF (BRF), India Small-Cap ETF (SCIF), Russia ETF (RSX), Russia Small-Cap ETF (RSXJ), Vietnam ETF (VNM), and more.
ISRA, Market Vectors’ 53rd ETF, has a gross expense ratio of 0.73 per cent and a net expense ratio of 0.59 per cent, with the fund’s expenses capped at 0.59 per cent until 1 May 2015.

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