Market Vectors Emerging Markets Local Currency Bond ETF Crosses $1 Billion Asset Threshold
Market Vectors Emerging Markets Local Currency Bond ETF (NYSE Arca: EMLC), has surpassed $1 billion in assets under management, it was announced today.
“We have seen continued interest in emerging market local currency bonds, particularly in light of the third round of quantitative easing (QE3) and its potential negative effects on the U.S. dollar. EMLC has been an excellent and cost-efficient way to quickly add broad exposure to this asset class.”
Fran Rodilosso, one of EMLC’s two portfolio managers, believes emerging markets will remain a compelling story. He explains that given “current higher interest rates coupled with lower debt, smaller deficits, growing productivity and central bank willingness to act in a vigilant manner, certain emerging markets have currencies that appear to be in a far better fundamental state than their G7 counterparts.”
Ed Lopez, Marketing Director for Market Vectors ETFs, adds, “We have seen continued interest in emerging market local currency bonds, particularly in light of the third round of quantitative easing (QE3) and its potential negative effects on the U.S. dollar. EMLC has been an excellent and cost-efficient way to quickly add broad exposure to this asset class.”
When EMLC was brought to market in 2010, it was the first U.S.-listed exchange-traded fund designed to provide investors with exposure to an index that tracks a basket of bonds issued in local currencies by emerging market governments. The fund seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of J.P. Morgan GBI-EMG Core Index. As of October 31, 2012, the Index tracked a selection of bonds issued in local currencies by fifteen emerging market countries: Brazil, Chile, Colombia, Hungary, Indonesia, Malaysia, Mexico, Nigeria, Peru, Philippines, Poland, Russia, South Africa, Thailand and Turkey.
Mr. Rodilosso has 20 years of experience trading and managing risk in fixed income investment strategies, including 17 years covering emerging markets. In addition to EMLC, other Market Vectors ETFs under his watch are LatAm Aggregate Bond ETF (NYSE Arca: BONO), Emerging Markets High Yield Bond ETF (NYSE Arca: HYEM), International High Yield Bond ETF (NYSE Arca: IHY), Renminbi Bond ETF (NYSE Arca: CHLC), Fallen Angel High Yield Bond ETF (NYSE Arca: ANGL) and Investment Grade Floating Rate ETF (NYSE Arca: FLTR).
More information on EMLC can be found by visiting www.marketvectorsetfs.com/emlc.
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About Market Vectors ETFs
Market Vectors exchange-traded products have been offered since 2006 and span many asset classes, including equities, fixed income (municipal and international bonds) and currency markets. The Market Vectors family currently totals $27.9 billion in assets under management, making it the fifth largest ETP family in the U.S. and eighth largest worldwide as of September 30, 2012.
Market Vectors ETFs are sponsored by 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 this tradition by offering innovative, actively managed investment choices in hard assets, emerging markets, precious metals including gold, and other alternative asset classes. Van Eck Global has offices around the world and manages approximately $37.8 billion in investor assets as of September 30, 2012.
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