Bringing you live news and features since 2006 

Van Eck to close five Market Vectors ETFs

RELATED TOPICS​

Van Eck Global is planning to close and liquidate five Market Vectors ETFs. The Board of Trustees of Market Vectors ETF Trust has approved the liquidation and dissolution of the funds.

The funds to close are: Market Vectors Bank and Brokerage ETF, Market Vectors Colombia ETF, Market Vectors Germany Small-Cap ETF, Market Vectors Latin America Small-Cap Index ETF and Market Vectors Renminbi Bond ETF.

Shareholders of the Funds may sell their holdings on NYSE Arca Inc. (“NYSE Arca”) until market close on 12 December, 2014, and they may incur typical transaction fees from their broker-dealer. The Funds’ shares will no longer trade on NYSE Arca after market close on December 12, 2014, and the shares will subsequently be de-listed. Shareholders who continue to hold shares of any of the Funds on the Funds’ liquidation date, which is expected to be on or about December 23, 2014, will receive a liquidating distribution of cash in the cash portion of their brokerage accounts equal to the amount of the net asset value of their shares. Proceeds from the liquidation are currently scheduled to be sent to shareholders on or about 23 December, 2014. For tax purposes, shareholders will generally recognise a capital gain or loss equal to the amount received for their shares over their adjusted basis in such shares. Information regarding the final tax status of distributions will be provided to shareholders with the year-end tax reporting of the funds.

Shareholders who hold shares of CHLC at market close on 8 December , 2014 will also receive a final distribution of net income and capital gains earned by the Fund and not previously distributed prior to liquidation. This distribution is currently scheduled to paid on 15 December, 2014. The final tax status of distributions made by CHLC, including the liquidating distribution, will be provided to shareholders with the year-end tax reporting for CHLC (including any portion which may be treated as a return of capital for tax purposes, reducing a shareholder’s basis in such shares).

Latest News

Sprott Asset Management, a wholly-owned subsidiary of Sprott Inc has announced the launch of four ETFs focused on providing investors..
Tradeweb Markets Inc. has reported total trading volume for January 2023 of USD23.2 trillion (tn). Average daily volume (ADV) for..
Strive Asset Management has launched its eighth index fund: the Strive Emerging Markets Ex-China ETF (STXE). The firm writes that..
Some big forces moved further into ETF issuance this week, with Capital Group launching 12 new active/passive model portfolios, and..

Related Articles

ETF
We are very pleased to open the voting for service providers (selected by nominations) and ETP issuers, selected by our data partners, Trackinsight, for the European ETF Express Awards, in...
Bitcoin
Osprey Funds’ founder and CEO, Greg King, has written an open letter to Barry Silbert, majority owner of Digital Currency Group which owns Grayscale, suggesting that he uses his powers...
Captain
Comparing multifactor ETFs to the popular Marvel Avengers series may seem a bit of a stretch but recent analysis from Morningstar suggests the investment strategies have more in common with...
Mackenzie
Canadian asset manager Mackenzie Investments, with CAD186.6 billion under management, has published its annual Mackenzie Investments Year-End ETF Report. ...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by