New York-based investment manager Van Eck Global today announced that the Securities and Exchange Commission (SEC) has declared effective the registration statement for Market Vectors–Coal ETF and Market Vectors–Gaming ETF as of January 2, 2008. Market Vectors–Coal ETF is expected to be launched on the NYSE Arca and Market Vectors–Gaming ETF on the American Stock Exchange.
Market Vectors–Coal ETF (KOL) will seek to replicate as closely as possible, before fees and expenses, the price and yield performance of the Stowe Coal IndexSM (COAL). As of December 31, 2007, COAL comprised of the stocks of 60 publicly traded companies engaged in the mining and/or transportation of coal, the manufacture of coal mining equipment and the production of clean coal. COAL is calculated and maintained by Standard & Poor’s Custom Indices on behalf of Stowe Global Indexes LLC.
Market Vectors–Gaming ETF (BJK) will seek to replicate as closely as possible, before fees and expenses, the price and yield performance of the S-Network Global Gaming IndexSM (WAGR). As of December 31, 2007, WAGR is comprised of the stocks of 69 publicly traded companies engaged in the global gaming industry including those engaged in casino operations and resort facilities related to casino operations, race track operations, sports and horse race betting operations, online gaming operations and/or the provision of related equipment and technologies. WAGR is calculated and maintained by Standard & Poor’s Custom Indices on behalf of Stowe Global Indexes LLC.
About Van Eck Global
Founded in 1955, Van Eck Global was among the first U.S. money managers helping investors achieve greater diversification through global investing. Today, the firm continues its 50+ year tradition by offering global investment choices in hard assets, emerging markets, gold and other precious metals, and other alternative asset classes.
As of December 31, 2007, the company managed over $9.2B in assets for individuals, insurers and institutional investors. The two new ETFs will join eight other Van Eck Market Vectors ETFs already in the market: Agribusiness (Amex: MOO), Environmental Services (Amex: EVX), Global Alternative Energy (NYSE: GEX), Gold Miners (Amex: GDX), Lehman Brothers AMT-Free Intermediate Municipal Index ETF (Amex: ITM), Nuclear Energy (Amex: NLR), Russia (NYSE: RSX) and Steel (Amex: SLX). These ETFs have a total of over $3.6B in assets under management as of December 31, 2007.
About the Indexes
The Stowe Coal IndexSM (COAL), a trademark of Stowe Global Indexes LLC, is licensed for use by Van Eck Associates Corporation in connection with Market Vectors-Coal ETF (KOL). Stowe Global Indexes LLC neither sponsors nor endorses KOL and makes no warranty or representation as to the accuracy and/or completeness of COAL or results to be obtained by any person using COAL in connection with trading KOL. COAL is calculated and maintained by Standard & Poor’s Custom Indices, which neither sponsors nor endorses KOL.
The S-Network Global Gaming IndexSM (WAGR), a trademark of Stowe Global Indexes LLC, is licensed for use by Van Eck Associates Corporation in connection with Market Vectors-Gaming ETF (BJK). Stowe Global Indexes LLC neither sponsors or endorses BJK and makes no warranty or representation as to the accuracy and/or completeness of WAGR or results to be obtained by any person using WAGR in connection with trading BJK. WAGR is calculated and maintained by Standard & Poor’s Custom Indices, which neither sponsors nor endorses BJK.
Market Vectors–Coal ETF (KOL) is subject to various risks including those associated with making investments in companies engaged in the coal business such as changes in exchange rates, interest rates, government regulations, world events, depletion of resources and economic conditions, as well as market, economic and political risks of the countries where energy companies are located or do business. Additional risks include worldwide energy price fluctuations, natural disasters and environmental damage claims.
Market Vectors–Gaming ETF (BJK) is subject to various risks including those associated with making investments in companies engaged in the gaming business such as competitive pressures, changes in government regulation, world events and economic conditions. Additional risks include legislative changes, high correlation within the industry and changes in consumer taste.
Investors may call 1.888.MKT.VCTR or visit www.vaneck.com/etf for a free prospectus or for performance information current to the most recent month end for each Market Vectors ETF. Investors should consider the investment objective, risks, and charges and expenses carefully before investing. The prospectus contains this and other information about each Market Vectors ETF. Please read it carefully before investing. There are risks associated with investing including the possible loss of principal.
Fund shares are not individually redeemable and will be issued and redeemed at their NAV only through certain authorized broker-dealers in large, specified blocks of shares called “creation units” and other wise can be bought and sold only through exchange trading. Creation units are issued and redeemed principally in kind.
Contacts:
Mike MacMillan/Andrew Schiff, 212-473-4442
mike@macmillancom.com