Market Vectors ETF Trust prepares to launch Indonesia Small-Cap ETF

By Toni Weeks

San Diego, March 14 - Market Vectors ETF Trust announced in an N-1A filing with the Securities and Exchange Commission its plans to launch the Indonesia Small-Cap ETF.

The new exchange-traded fund will trade on the NYSE Arca under the symbol "IDXJ."

The fund seeks to replicate, before fees and expenses, the price and yield performance of the Market Vectors Indonesia Small-Cap Index. The ETF will invest at least 80% of its total assets in securities of the benchmark index, which is comprised of securities of Indonesian small-capitalization companies. The fund may also invest in depositary receipts, and these will count toward the fund's 80% investment policy if issued by Indonesian companies.

Hao-Hung (Peter) Liao and George Cao are the portfolio managers.

The fund will not impose shareholder fees. The management fee will be 0.5%. New York-based Van Eck Associates Corp, the fund's investment adviser, will waive and/or pay fund fees and expenses as necessary to limit the total annual fund operating expenses to 0.61% until May 1, 2013.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.