Van Eck Global Investments, which runs Market Vectors Ucits ETFs, has listed its exchange-traded funds (ETFs) in Europe for the first time, on the London Stock Exchange (LSE).
Both the Market Vectors Gold Miners Ucits ETF (GDX) and Market Vectors Junior Gold Miners (GDXJ) have been listed on the LSE, hoping to mirror the success of the funds US listed counterparts. In addition the LSE listing, the ETFs are registered for public distribution in Finland, Germany, Ireland, Norway, Sweden, the Netherlands, and Spain. Further listings on selected European exchanges are expected to follow.
Both the funds invest in gold mining stocks, tracking the NYSE Arca Gold Miners Index. The GDX provides exposure to a portfolio of large, mid-sized and small global gold mining companies. The GDXJ is benchmarked to the Market Vectors Global Juniors Gold Miners Index and invests in micro, small and medium capitalisation mining companies. Many of these companies are deemed “early stage” companies, in an exploratory or early development stage.
“The launch of Ucits compliant ETFs in Europe is an important milestone in expanding our ETF business into one of the strategically most important financial markets worldwide,” said Jan van Eck, principal and chief executive officer of Van Eck Global.
Van Eck Global has approximately $32 billion (€30.2 billion) in assets under management.
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