Van Eck Global, a New York-based asset manager, has launched Market Vectors Poland ETF (PLND) on NYSE Arca, expanding its family of emerging market country ETFs. PLND seeks to offer investors pure-play exposure to Poland.
PLND seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors Poland Index. The index had 26 constituents including Powszechna Kasa Oszczednosci Bank, Bank Polska Kasa Opieki and KGHM Polska Miedz, as of October 31, 2009. Its top component sectors were financials (40.3% of the index), energy (13.6%) and industrials (11%) and the index had a 60% weighting in small- and mid-cap stocks, as of the same date.
The Market Vectors Poland Index is intended to give investors a means of tracking the overall performance of companies that are domiciled and primarily listed in Poland, or that generate at least 50% of their revenues in Poland.
Jan van Eck, principal of Van Eck Global, said: “Poland is the largest and fastest growing economy in Central and Eastern Europe. Poland’s economy has recently surpassed Belgium and Sweden and is one of the only economies in the CEE region to show positive growth this year. While this nascent economy certainly comes with its share of risks, we are pleased to offer an ETF that seeks to reflect the Polish stock market structure.”
