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Van Eck Global subsidiary launches four ETFs in Australia


Van Eck Global’s subsidiary Market Vectors Australia has launched four new locally-registered exchange-traded funds (ETFs) on the Australian Securities Exchange (ASX).

The four new Australian sector ETFs are the Market Vectors Australian Banks ETF, the Market Vectors Australian Resources ETF, the Market Vectors Australian Emerging Resources ETF, and the Market Vectors Australian Property ETF. These ETFs seek to track indices developed by Market Vectors Index Solutions (MVIS).

Australia’s USD2.13 trillion managed fund market is the world’s third-largest and is dominated largely by the superannuation and rollover segments. Demand for exchange-traded funds in Australia has been expanding rapidly, recently reaching a record AUD8.97 billion in assets, according to the September ASX Funds Monthly Update.

As measured by market capitalisation, the Australian exchange-traded product market has grown by 57 percent over the 12-month period ending in September 2013, with strong demand from self-managed superannuation funds (trusts created under Australian law to facilitate individual retirement savings). The use of ETPs by Australian financial advisors and their clients has also seen significant growth, with more growth expected as a result of the Future of Financial Advice reforms that became effective on 1 July of this year.

“We see a significant growth opportunity in Australia for our family of exchange-traded funds,” says Adam Phillips, Chief Operating Officer of Market Vectors ETFs. “The market is growing and many sectors of interest play to the firm’s core strengths. We believe that Market Vectors’ expertise in ETF product development will benefit Australian investors by way of increased and improved investment choices.”

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