Market Vectors announces plans for two new emerging markets bond ETFs

By Toni Weeks

San Diego, Sept. 6 - Market Vectors ETF Trust announced in an N-1A filing with the Securities and Exchange Commission its plans to offer two new exchange-traded funds that target emerging market investments.

The Emerging Markets USD Aggregate Bond ETF and the Emerging Markets Aggregate Bond ETF will both list on the NYSE Arca. Ticker symbols have not yet been set.

Each fund will seek to replicate, before fees and expenses, the price and yield performance of a benchmark index by investing at least 80% of its total assets in securities that comprise its corresponding index.

Neither benchmark index has been selected, but they will both be comprised of debt securities issued by emerging market issuers. The benchmark index associated with the Emerging Markets USD Aggregate Bond ETF will be comprised of dollar-denominated debt securities, while the index associated with the Emerging Markets Aggregate Bond ETF will consist of debt securities denominated in dollars, euros as well as local emerging markets currencies.

Michael F. Mazier and Francis G. Rodilosso are the portfolio managers for both funds.

Shareholder fees and management fees have not yet been determined.

New York-based Van Eck Associates Corp. will be the funds' investment adviser.

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