Market Vectors Agribusiness ETF (NYSE Arca: MOO), distributed by Van Eck Global, has reached $2 billion in assets as of October 13, 2010, the company announced today. MOO was the first ETF listed in the U.S. which sought to give U.S. investors exposure to a broad spectrum of companies involved in agribusiness.
MOO seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the DAXglobal® Agribusiness Index (DXAG), a basket of the securities of 46* companies engaged in agribusiness and listed on global exchanges. MOO seeks to provide investors with a convenient means to gain exposure to a basic industry with solid growth potential.
“Agriculture remains a fundamental cornerstone of the world economy with basic demand historically moving in line with growing populations and rising personal incomes,” said Jan van Eck, Principal at Van Eck Global. “With a relatively fixed amount of arable land, there is continued interest in increasing productivity through agricultural chemicals and equipment.”
“Producers of biofuels may represent another source of incremental demand for certain crops. These growth opportunities have resulted in strong interest among investors in agribusiness. We are pleased to see that the interest in our Fund continues to grow among financial advisors and their clients,” van Eck added.
For more information about MOO, visit vaneck.com/moo or call 888.MKT.VCTR.
*as of September 30, 2010
About Van Eck Global
Founded in 1955, Van Eck Associates Corporation was among the first U.S. money managers helping investors achieve greater diversification through global investing. Today the firm continues this 50+ year tradition by offering global investment choices in hard assets, emerging markets, precious metals including gold, and other specialized asset classes.
Market Vectors exchange-traded products have been offered by Van Eck Global since 2006 when the firm launched the nation’s first gold-mining ETF. Today, Market Vectors ETFs and ETNs span several asset classes, including equities, municipal and fixed income bonds and currency markets.
Van Eck Global also offers mutual funds, variable insurance product funds, separate accounts and alternative investments. Designed for investors seeking innovative choices for portfolio diversification, Van Eck’s investment products are often categorized in asset classes having returns with low correlations to those of more traditional U.S. equity and fixed income investments.
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Past performance does not guarantee future results. Indices listed are unmanaged and are not securities in which investments can be made. You cannot invest directly in an index.
DAXglobal® Agribusiness Index (DXAG) is a trademark of the Deutsche Börse AG which is licensed for use by Van Eck Associates Corporation in connection with the Fund. Deutsche Börse neither sponsors nor endorses the Fund and makes no warranty or representation as to the accuracy and/or completeness of DXAG or the results to be obtained by any person from the use of DXAG in connection with the trading of the Fund.
Market Vectors Agribusiness ETF is subject to various risks including those associated with making investments in companies engaged in the agriculture business such as economic forces, energy and financial markets, government policies and regulations, and environmental laws and regulations. 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 free prospectus, which contains this and other information, call 1.888.MKT.VCTR or visit vaneck.com/etf. Please read the prospectus carefully before investing.
Chris Sullivan/Aaron Siegel