Van Eck Global, a New York-based asset manager, has launched Market Vectors Vietnam ETF (VNM) on NYSE Arca. VNM provides investors with the US-based ETF offering exposure to the Vietnamese market by seeking to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors Vietnam Index.
The Market Vectors Vietnam Index is calculated and maintained by Standard & Poor’s on behalf of 4asset-management GmbH. Currently, approximately 70% of the market capitalization of the Index is composed of securities of companies domiciled and primarily listed on an exchange in Vietnam and which generate at least 50% of revenues from Vietnam; this percentage is expected to increase in the future.
The remaining 30% is comprised of Offshore companies which generate, or are expected to generate, at least 50% of their revenues from Vietnam, or that demonstrate a significant and/or dominant position in the Vietnamese market and are expected to grow.
VNM is the 21st ETF offered under Van Eck’s Market Vectors brand and joins the firm’s established international equity lineup, which includes exchange-traded funds (Africa Index ETF | Brazil Small-Cap ETF | Gulf States Index ETF | Indonesia Index ETF | Russia ETF), retail mutual funds (small- and mid-cap oriented Emerging Markets Fund (GBFAX)), and institutional assets.
