Market Vectors plans to launch Global High Yield Bond ETF

By Toni Weeks

San Diego, Jan. 30 - Market Vectors ETF Trust announced plans to launch the Global High Yield Bond ETF, according to an N-1A filing with the Securities and Exchange Commission.

The fund will seek to replicate as closely as possible, before fees and expenses, the price and yield performance of the Bank of America Merrill Lynch Global High Yield Constrained Index

The fund will invest at least 80% of its total assets in securities that comprise the index, which consists of high-yield debt issued by corporations located throughout the world, including the United States and emerging market countries, denominated in euros, dollars, Canadian dollars or pound sterling and issued in the major domestic or eurobond markets. The rating is based on an average of Moody's Investors Service, Inc., Standard & Poor's Rating Services and Fitch International Rating Agency.

The portfolio manager will be Michael F. Mazier.

The fund will trade on the NYSE Arca. The ticker symbol has not been determined.

Fees and expenses have not yet been disclosed.

The fund's investment adviser will be New York-based Van Eck Associates Corp.

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