As a result of recent changes to China’s tax regime attributable to certain securities held by the Market Vectors ChinaAMC A-Share ETF (PEK) and the Market Vectors ChinaAMC SME-ChiNext ETF (CNXT), these Funds will release their capital gains tax reserves back to shareholders at market close on 22 December, 2014.
The release of reserves are expected to add $0.02 per share to PEK’s Net Asset Value and are expected to have no share impact to CNXT’s Net Asset Value.
PEK seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the CSI 300 Index. The CSI 300 Index consists of 300 A-Share stocks listed on the Shenzen or Shanghai Stock Exchange. CNXT seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the SME-ChiNext 100 Index. The SME-ChiNext Index consists of the 100 largest and most liquid stocks listed and trading on the Small and Medium Enterprise (“SME”) Board and the ChiNext Board of the Shenzhen Stock Exchange.
