Van Eck Moo-ves into agribusiness with new ETF

Van Eck Global has launched a new agribusiness ETF on the American Stock Exchange. The fund, titled Moo, was created by the New York-based asset consultancy and has been designed to mirror the performance of the DAXglobal Agribusiness Index (DXAG), which aggregates the securities of 40 different agribusinesses listed on global exchanges.

As the first of its kind to be listed on the Amex, Moo will offer US investors diversified exposure to the global agriculture business and potentially the chance to profit from the global commodity boom. Van Eck is expected to make available options on the fund. The launch takes place amid positive growth prospects for agribusiness.

Demand for food is growing in correlation with increasing global population and higher personal incomes, alongside the need for crops to produce biofuels. DXAG has