Van Eck Files For Market Vectors Yuan Bond ETF
Van Eck has filed paperwork with the SEC for a “Market Vectors Yuan Bond ETF.” Market Vectors Yuan Bond ETF (the “Fund”) seeks total return consisting of income and capital appreciation. They did not specify a trading symbol or expense ratio in the initial filing.
Principal Investment Strategies
The Fund normally invests at least 80% of its total assets in Chinese yuan denominated debt obligations issued outside of mainland China by Chinese and non-Chinese issuers, including corporations, governments and government and supranational agencies (“Yuan Bonds”). Yuan Bonds in which the Fund may invest may be of any maturity and may include debt obligations that are unrated or, if rated, are considered to be investment grade or below investment grade. In selecting securities for the Fund’s portfolio, the Adviser uses a range of qualitative and quantitative factors that seeks to identify securities that are desirable on a relative value basis. Securities in the Fund’s portfolio are regularly reviewed to ensure that they continue to offer absolute and relative desirability. The 80% investment policy is non-fundamental and requires 60 days’ prior written notice to shareholders before it can be changed.
The Fund may invest up to 20% of its total assets in money market instruments, including repurchase agreements or other funds which invest exclusively in money market instruments, and convertible securities. For temporary defensive purposes, the Fund may invest without limit in money market instruments, including repurchase agreements or other funds which invest exclusively in money market instruments.
For the complete filing click: HERE
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