Market Vectors strengthens ETF offer in Mexico
Market Vectors ETFs has added another NYSE Arca-traded ETF to the growing list of depository receipts based on Market Vectors ETFs currently available to Qualified Investors in Mexico.
Deutsche Securities Casa de Bolsa in Mexico will act as local sponsor and filing agent for depository receipts on the following ETF: Market Vectors Unconventional Oil & Gas ETF, with assets under management of $72.1m and a 30-day average daily trading volume of 52,387 thousand shares.
FRAK, the Market Vectors ETF underlying such depository receipts, seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of a corresponding rules-based index. The underlying index, the Market Vectors Global Unconventional Oil & Gas Index (MVFRAKTR), is a rules-based index intended to track the overall performance of the unconventional oil and gas segment, defined as: coalbed methane (CBM), coal seam gas (CSG), shale oil, shale gas, tight natural gas, tight oil and tight sands.
This article was previously published on Funds Society