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Van Eck to close four Market Vectors ETFs

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Exchange traded fund (ETF) provider Van Eck Global is to close and liquidate four Market Vectors ETFs.

On 3 September, 2015, the Board of Trustees of Market Vectors ETF Trust approved the liquidation and dissolution of the following funds.
 
The ETFs are:
Market Vectors MSCI Emerging Markets Quality ETF (QEM)
Market Vectors MSCI Emerging Markets Quality Dividend ETF (QDEM)
Market Vectors MSCI International Quality ETF (QXUS)
Market Vectors MSCI International Quality Dividend ETF (QDXU)
 
Shareholders of the Funds may sell their holdings on NYSE Arca until market close on 18 September, 2015, 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 18 September, 2015, 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 28 October, 2015, will receive a liquidating distribution of cash in the cash portion of their brokerage accounts equal to the amount of the net asset value (NAV) of their shares. Proceeds from the liquidation are currently scheduled to be sent to shareholders on or about 28 October, 2015, although this may occur prior to or later than this date. 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.
 
In addition, shareholders who hold shares of the Funds may receive a final distribution of net income and capital gains earned by the Funds and not previously distributed prior to liquidation.

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