May 01, 2011 at 11:00 AM EDT
Van Eck Plans Specialty Finance ETF
Historically, Van Eck has been known in the ETF space for its hard assets expertise and suite of targeted emerging markets funds. But recently the New York-based firm has also taken steps to develop other corners of its ETP lineup, including the introduction of the first investment grade floating rate debt fund (FLTR) earlier this week. In a recent SEC filing the company laid plans for what would be another unique ETF, detailing the Market Vectors Business Development Company/Specialty Finance ETF. The proposed fund would seek to replicate the Market Vectors Business Development Company/Specialty Finance Index, a benchmark that is comprised of U.S.-listed business development companies (“BDCs”) and specialty finance companies. According to the filing, BCDs are companies whose principal business is to invest in, lend capital to or provide services to privately-held companies. Specialty finance companies provide capital or financing to businesses and consumers within specified market segments [find [...] Click here to read the original article on ETFdb.com. Related Posts: UBS Debuts BDC ETN (BDCS) Van Eck Launches Floating Rate Debt ETF (FLTR) Diamonds In The Rough: Ten Of Our Favorite ETFs With AUM Under $25 Million ETF Pipeline: Floating Rate Bonds, European Bonds, And More Five ETF Picks For Your IRA
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