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Van Eck Global to expand ETF lineup with acquisition of Master Limited Partnership (MLP) ETFs


Van Eck Global is to expand its exchange traded fund range with the acquisition of the Yorkville High Income MLP ETF (YMLP) and the Yorkville High Income Infrastructure MLP ETF (YMLI) from Yorkville ETF Advisors

Pending approvals from shareholders of the existing ETFs and the boards of trustees of each of the Market Vectors ETF Trust and Exchange Traded Concepts Trust, YMLP and YMLI will be reorganised as the Market Vectors High Income MLP ETF and the Market Vectors High Income Infrastructure MLP ETF, respectively.

“Van Eck Global is highly regarded as both a seasoned sponsor of exchange-traded products and an industry leader in natural resources and commodities-related investing. We believe shareholders will be well served by Van Eck Global’s insight and accessibility,” says Rich Hogan, Managing Partner of Yorkville ETF Advisers, LLC.

Jan van Eck (pictured), CEO of Van Eck Global, says: “MLPs are an important segment of the energy market. The attractive yield characteristics of MLPs make these ETFs a natural extension of our focus on income-oriented investing and we’re excited to make this asset class available to investors.”

The reorganisation of the funds as Van Eck ETFs is expected to allow investors to maintain exposure to MLP investments while benefiting from Van Eck’s extensive natural resources and commodities investing experience. While there have previously been acquisitions of ETF sponsors, this transaction marks the first US-listed exchange-traded fund reorganisation of its kind. Upon completion of the reorganisation process, the ETFs are expected to retain their current ticker symbols and underlying indices.

Van Eck Global expects the reorganisation process to begin late in the third quarter of 2015 and the transaction to be finalised in the fourth quarter of this year. A proxy statement, which is expected to be filed with the Securities Exchange Commission (SEC) in September 2015, will contain information about the transaction including its mechanics and timing.

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