Market Vectors Index Solutions Licenses Global Agribusiness and Global Solar Energy Indices to Van Eck
MV Global Agribusiness and MV Global Solar Energy Indices replace previous ETF benchmarks
FRANKFURT, Germany--(BUSINESS WIRE)-- Market Vectors Index Solutions GmbH (MVIS - www.marketvectorsindices.com) today announced the licensing of Market Vectors Global Agribusiness Index (MVMOOTR) and Market Vectors Global Solar Energy Index (MVKWTTR) to Van Eck Global, the 5th largest provider of exchange-traded products in the US and the 8th largest globally. Beginning today MVMOOTR and MVKWTTR replace the previous index benchmarks of the Market Vectors Agribusiness ETF (NYSE Arca: MOO) and the Market Vectors Solar Energy ETF (NYSE Arca: KWT). MOO is currently the largest US-listed agribusiness exchange-traded fund (ETF) with USD 5.7 billion in assets under management.
"We are pleased to announce the licensing agreement with Van Eck", said Lars Hamich, Chief Executive Officer at MVIS. "Both hard assets indices are in consistency with the high quality standards applied to all Market Vectors Indices which are specifically built for ETFs. Our pure-play methodology concept offers truly representative exposure to the respective index targets. Sophisticated capping models avoid overconcentration of constituents and offer well diversified indices. The most demanding liquidity screenings ensure that our indices are highly liquid, thus the ideal underlyings for ETFs."
Market Vectors Global Agribusiness Index and Market Vectors Global Solar Energy Index are calculated as price and total return indices and are reviewed quarterly. Index history is available back to December 2006.
Full Market Capitalisation (bn USD): 479.29
Number of Components: 48
Base Date/Base Value: 29.12.2006/1000
Top 5 Companies by Weighting: Syngenta (7.98%), Monsanto (7.98%), Deere & Co (7.08%), Potash Corporation of Saskatchewan (6.57%), Archer-Daniels-Midland (6.00%)
Full Market Capitalisation (bn USD): 22.90
Number of Components: 33
Base Date/Base Value: 29.12.2006/1000
Top 5 Companies by Weighting: First Solar (8.58%), GCL-Poly Energy Holdings (6.91%), Wacker Chemie (6.59%), Advanced Energy Industries (6.30%), MEMC Electronic Materials (5.86%)
(Opening data, 18 March 2013)
Detailed information about Market Vectors Global Agribusiness Index and Market Vectors Global Solar Energy Index as well as the full range of Market Vectors Indices, including methodology details and comprehensive data is available on www.marketvectorsindices.com.
Note to Editors:
About Market Vectors Index Solutions GmbH
Market Vectors Index Solutions GmbH (MVIS) develops, monitors and licenses the Market Vectors Indices, a selection of focused, investable and diversified benchmark indices which are especially designed to underlie financial products. Market Vectors Indices cover several asset classes, including hard assets and international equity markets as well as fixed income markets and are licensed to serve as underlying indices for financial products.
Approximately USD 14.3 billion in assets under management are currently invested in financial products based on Market Vectors Indices. MVIS is a wholly owned subsidiary of Van Eck Associates Corporation (also known as Van Eck Global).
KEYWORDS: Europe Germany
The article Market Vectors Index Solutions Licenses Global Agribusiness and Global Solar Energy Indices to Van Eck originally appeared on Fool.com.
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