Market Vectors RVE Hard Assets Producers ETF lowers expense cap

By Tali David

Minneapolis, Feb. 29 - Market Vectors ETFs announced that it is contractually lowering the expense cap of its Market Vectors RVE Hard Assets Producers ETF, according to a press release.

The expense cap was lowered to 0.49% from 0.59%. This reduced expense limitation is capped contractually until at least May 1, 2013, Market Vectors said.

The gross expense ratio for the fund is 0.63%.

"We expect the reduced pricing will make HAP a more attractive option for long-term investors seeking comprehensive exposure to the world's largest and most prominent hard assets producers and distributors," Market Vectors ETF Trust president Jan van Eck said in the release.

The fund's investment adviser is New York-based Van Eck Global.

© 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.