Market Vectors Index Solutions has licensed the Market Vectors Global Uranium & Nuclear Energy Index to Van Eck Global, the eighth largest provider of exchange-traded products (ETPs) in the US.
The index replaces the previous index benchmark of the Market Vectors Uranium+Nuclear Energy ETF (NLR).
“We are pleased to announce that Van Eck Global has selected our Global Uranium and Nuclear Index as the benchmark for its ETF,” says Lars Hamich, chief executive officer at MVIS. “The index tracks the performance of the largest and most liquid companies globally provided that they generate at least 50 per cent of their revenues in the uranium and nuclear energy sector. Being tailor-made to underlie exchange-traded funds the index design focus in particular on liquidity, diversification and pure-play exposure, typical characteristics of all Market Vectors Indices.”
MV Global Uranium & Nuclear Energy Index currently contains 52 components and covers at least 90 per cent of the investable universe. Individual companies in the index are capped at eight per cent; reviews are performed quarterly.