NYSE Euronext (NYX) announced that its wholly-owned subsidiary, NYSE Arca, began trading the …
Market Vectors Vietnam ETF (Ticker: VNM). The ETF is sponsored by Van Eck Associates Corporation.
The Fund’s investment objective is to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors Vietnam Index (MNVNM). MNVNM is a rules-based, modified capitalization weighted, float adjusted index intended to give investors exposure to Vietnam .
Currently, approximately 70% of the market capitalization of the Vietnam Index is composed of securities of companies domiciled and primarily listed on an exchange in Vietnam and which generate at least 50% of revenues from Vietnam ..This percentage is expected to increase in the future. The Index may also include non-Vietnamese companies that generate, or are expected to generate, at least 50% of their revenues from Vietnam , or that demonstrate a significant and/or dominant position in the Vietnamese market and are expected to grow. The Offshore component of the Index is currently approximately 30%. MNVNM comprises a broad representation of Vietnam ’s equity market with 28 companies in 8 sectors as of July 31, 2009. The Index’s top sectors include Financials (37% of the Index), Energy (19%) and Materials (12%).
Source: ETFWorld.com – Euronext
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