NEW YORK--(BUSINESS WIRE)--Effective on or about March 18, 2013, Market Vectors Solar Energy ETF (NYSE Arca: KWT) will begin tracking the Market Vectors® Global Solar Energy Index (MVKWTTR). MVKWTTR uses the Market Vectors index methodology that focuses on investability, diversification and pure-play exposure to the relative asset class. This methodology is shared by the benchmark indexes of several other Market Vector ETFs, including Brazil Small-Cap (BRF®), Indonesia (IDX), Junior Gold Miners (GDXJ®), Oil Services (OIH), Russia (RSX®), Semiconductor (SMH) and Vietnam (VNM).
MVKWTTR is a rules based, modified capitalization-weighted, float-adjusted index that seeks to track the performance of the global solar energy segment. Similar to other Market Vectors indices, MVKWTTR is built specifically for ETFs. The Index employs constituent weighting caps that will help diversify the ETF among more names in the global solar energy segment, while extensive liquidity screens are used to enhance the tradability of the ETF. Additionally, to create an index representative of the industry, its rules require that constituents generate at least fifty percent of their revenues from the global solar energy segment. The constituent names and weights of every Market Vectors index, including MVKWTTR, are provided daily on the Market Vectors Index Solutions website: www.marketvectorsindices.com.
MVMKWTTR was developed, and is published by Market Vectors Index Solutions GmbH (MVIS), a Germany-based wholly owned subsidiary of Van Eck Associates Corporation. MVIS develops, markets and licenses Market Vectors branded indexes. In total, approximately $8.7 billion in assets under management are linked to exchange-traded products using Market Vectors indexes, as of September 30, 2012. Detailed information regarding MVIS is available at www.marketvectorsindices.com.
About Market Vectors
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 ETF family in the U.S. and the 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.
The Market Vectors Solar Energy ETF is subject to various risks including those associated with making investments in companies engaged in the solar energy business such as competitive pressures, changes in government policy and regulation, economic and political conditions, world events and risks related to foreign investments. Additional risks include short product cycles, technological developments and obsolescence, commodity and energy price volatility, depletion of resources and a variety of risks associated with companies with limited operating histories. The Fund may loan its securities, which may subject it to additional credit and counterparty risk.
Fund shares are not individually redeemable and will be issued and redeemed at their NAV only through certain authorized broker-dealers in large, specified blocks of shares called “creation units” and otherwise can be bought and sold only through exchange trading. Creation units are issued and redeemed principally in kind. Shares may trade at a premium or discount to their NAV in the secondary market.
Investing involves risk, including possible loss of principal. An investor should consider the investment objective, risks, and charges and expenses of the investment carefully before investing. To obtain a summary prospectus and prospectus, which contain this and other information, call 888.MKT.VCTR or visit vaneck.com/etf. Please read the summary prospectus and prospectus carefully before investing.
Van Eck Securities Corporation, Distributor, 335 Madison Avenue, New York, NY 10017