New York money manager Van Eck Global plans to launch a U.S. exchange-traded fund that will invest in Russian securities. The Market Vectors-Russia ETF will be the first Russia ETF listed in the U.S., according to Reuters. Van Eck earlier this week said the Securities and Exchange Commission had declared effective the prospectuses for the Russia ETF and the Market Vectors-Global Alternative Energy ETF – and the two ETFs are expected to launch in Q2.
The Russia ETF will use as its benchmark the DAXglobal Russia+ Index, and the Global Alternative Energy ETF will use as its benchmark the Ardour Global Index (Extra Liquid).