Van Eck Plans Specialty Finance ETF
Sunday, 01 May 2011 20:09

Historically, Van Eck has been known in the ETF space for its hard assets expertise and suite of targeted emerging markets funds. But recently the New York-based firm has also taken steps to develop other corners of its ETP lineup, including the introduction of the first investment grade floating rate debt fund (FLTR) earlier this week.

In a recent SEC filing the company laid plans for what would be another unique ETF, detailing the Market Vectors Business Development Company/Specialty Finance ETF. The proposed fund would seek to replicate the Market Vectors Business Development Company/Specialty Finance Index, a benchmark that is comprised of U.S.-listed business development companies (“BDCs”) and specialty finance companies. According to the filing, BCDs are companies whose principal business is to invest in, lend capital to or provide services to privately-held companies. Specialty finance companies provide capital or financing to businesses and consumers within specified market segments [find [...]




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