Van Eck unveils first Global Hard Assets ETF

Asset manager Van Eck Global, based in New York, has launched its Market Vectors-RVE Hard Asset Producers exchange-traded fund (ETF), the first of its kind, on the American Stock Exchange (Amex).

The ETF aims to replicate the performance of the Rogers-Van Eck Hard Assets Producers Index (RVEI), a global benchmark for commodity equities comprising 321 companies in 40 countries and six sectors, as measured at the end of August. The companies constituting the index are the largest, publicly-traded companies engaged in the production and distribution of hard assets and related products and services, meaning the index captures more than 90% of the industry’s global stock and market capitalisation. Sectors covered by the companies include energy, agriculture, base metals, precious metals, forest products, and water and renewable energy.

Furthermore, the index comprises only those companies that accrue at least 50% of their revenues from the commodity sector, with the exception of water where constituents must generate at least 25% of their revenues from that industry.

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