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Products June 26, 2013
Market Vectors Launches New ETF
Market Vectors ETF Trust has launched the Market Vectors ETF, an exchange-traded fund (ETF) that will provide investors with broad exposure to Israel’s dynamic equity market.
Reported by Kevin McGuinness
“Israel is uniquely positioned to offer investors emerging-market growth characteristics with a developed-market approach to economic management,” said Amrita Bagaria, ETF product manager with Market Vectors.
The fund, which uses the trading symbol ISRA, seeks to replicate, as closely as possible, the price and yield performance of the BlueStar Israel Global Index, a rules-based index of Israeli and Israeli-linked companies intended to track the overall performance of the largest and most-liquid companies, as well as mid-cap and small-cap companies that display sufficient liquidity.
“In designing the index, we wanted to set a high bar for inclusion,” said Steve Schoenfeld of BlueStar Global Investors LLC. “It was important that each constituent have a deep involvement in Israel’s growth. We believe we’ve been able to accomplish that, and we are pleased to provide the underlying index for Market VectorsETF.”
The fund is part of a family of international equity ETFs that include the Indonesia Index ETF, Indonesia Small-Cap ETF, Brazil Small-Cap ETF, India Small-Cap ETF, Russia ETF, Russia Small-Cap ETF and Vietnam ETF.