Van Eck Global announced today the expiration of the exchange
offers by its Market Vectors ETF Trust for any and all outstanding
receipts of six Merrill Lynch-sponsored HOLDRS: Oil Service (OIH),
Semiconductor (SMH), Pharmaceutical (PPH), Biotech (BBH), Retail
(RTH), and Regional Bank (RKH). The offering period expired, as
scheduled, at 11:00 a.m. EST, on December, 20, 2011.
All terms and conditions have been satisfied
for each of the six exchange offers. As such, Market Vectors ETF
Trust has accepted all tendered HOLDRS associated with the offers.
A total of 33,756,917 HOLDRS were validly tendered (and not
withdrawn) and accepted by Market Vectors ETF Trust, representing
nearly 70% of the value of the aggregate assets of the six Trusts
and totaling $2.3 billion (based off today’s 10:30 a.m. market
prices). A breakdown for each is as follows:
Ticker HOLDRS Trust
HOLDRS Tendered % of Outstanding
HOLDRS OIH Oil Service 10,203,621
60.71% SMH Semiconductor
14,320,937 71.02% PPH Pharmaceutical
5,369,069 70.20% BBH
Biotech 1,565,501 63.69% RTH
Retail 1,157,177 57.34% RKH
Regional Bank 1,140,612
74.52%
“We are extremely pleased with the outcome, and feel that the
exchange offers have provided an important benefit to investors. As
we’ve stated, we believe that ETFs offer a better investment
vehicle when compared to the HOLDRS structure,” said Adam Phillips,
Managing Director of ETFs at Van Eck Global. “These funds are a
great addition to the Van Eck platform and, particularly in the
case of OIH, a natural extension of the kinds of products with
which we have historically been associated. We are eager to move
forward with the launch of this new suite of industry focused
ETFs.”
All owners of validly tendered HOLDRS will be entitled to shares
of a new corresponding Market Vectors ETF. The newly created ETFs
are expected to begin trading tomorrow, December 21, 2011 under the
corresponding HOLDRS’ ticker symbols. The table below presents the
ticker symbols, names and underlying indices for each of the six
new Market Vectors® ETFs to launch tomorrow.
Ticker
Market Vectors ETF
Market Vectors Index
See links below for Fund related info
found at vaneck.com.
See links below for index information
found at the index provider’s website,
marketvectorsindices.com.
OIH Oil Services ETF
US Listed Oil Services 25
Index(MVOIHTR)
SMH Semiconductor ETF
US Listed Semiconductor 25 Index
(MVSMHTR)
PPH Pharmaceutical ETF
US Listed Pharmaceutical 25 Index
(MVPPHTR)
BBH Biotech ETF
US Listed Biotech 25 Index(MVBBHTR)
RTH Retail ETF
US Listed Retail 25 Index(MVRTHTR)
RKH Bank and Brokerage ETF
US Listed Bank and Brokerage 25 Index
(MVRKHTR)
About the New ETFs
Market Vectors’ six new ETFs seek to replicate as closely as
possible, before fees and expenses, the price and yield performance
of Market Vectors Indices. By tracking their respective indices,
the new ETFs will provide exposure to highly liquid companies. The
index weighting methodology combines market capitalization and
trading volume rankings to compile 25 of the largest and most
actively traded companies in their respective industries.
Additionally, the new ETFs may include both domestic and U.S.-
listed foreign companies. This feature allows for greater industry
representation compared to many industry-focused indices which
include U.S. domiciled companies only. Many highly recognizable
companies in these industries are based outside of the U.S.,
particularly in Oil Services, Semiconductor and Pharmaceutical.
The indices are capitalization-weighted and require constituents
to be listed on a U.S. exchange and derive the majority of their
revenues from their respective industry. Each index will have 25
constituents with weightings rebalanced quarterly.
The launch of these ETFs underscores Van Eck’s commitment to
industry-focused investment themes and the ongoing evolution of the
firm’s product offerings. Van Eck currently offers a broad lineup
of specialized hard asset ETFs as well as industry ETFs focused on
global gaming, environmental services and mortgage REITs. In
addition, it offers international equity, fixed income and
municipal bond ETFs.
Each of the new Market Vectors ETFs carry a gross expense ratio
of 0.47% and a net expense ratio of 0.35%, with expenses capped at
0.35% at least until May 1, 2013 (excludes certain expenses, such
as interest).
About Market Vectors
Founded in 1955, Van Eck Global was among the first U.S. money
managers helping investors achieve greater diversification through
global investing. Today, the firm continues this tradition by
offering innovative, actively managed investment choices in hard
assets, emerging markets, precious metals including gold, and other
alternative asset classes. Van Eck Global has offices around the
world and manages approximately $30.8 billion in investor assets as
of September 30, 2011.
Market Vectors exchange-traded products have been offered by Van
Eck Global since 2006 and span many asset classes, including
equities, municipal bonds and other fixed income as well as
currencies. The Market Vectors family currently totals $21.7
billion in assets under management, making it the sixth largest ETF
family in the U.S. and the ninth largest worldwide as of September
30, 2011.
Important Disclosure
All information in this material (other than opinions or
expectations) concerning applicable HOLDRS, including their
business and operations, was provided by Merrill Lynch & Co.,
Inc. All information in this material concerning Van Eck ETFs,
including its business, operations and financial results, was
provided by Van Eck. Information on HOLDRS assets under management
and trading volume was sourced from Bloomberg.
Investing involves substantial risk and high volatility,
including possible loss of principal. An investor should consider
the investment objective, risks, charges and expenses of a new ETF
carefully before investing. Please read the prospectus and summary
prospectus carefully before investing.
Investors may obtain free copies of the prospectus and
summary prospectus, and other documents filed with the SEC at the
SEC’s web site at www.sec.gov. In addition, free
copies of the prospectus and summary prospectus, and other
documents filed with the SEC may also be obtained by directing a
request to: Van Eck Securities Corporation, Distributor, 335
Madison Avenue, New York, NY 10017 or by calling: 800.826.2333 or
visiting vaneck.com/holdrs.
The indexes referred to herein are published by and are the
exclusive property of Market Vectors Index Solutions GmbH, which
has contracted with Structured Solutions AG to maintain and
calculate the Indexes. Structured Solutions AG uses its best
efforts to ensure that the Indices are calculated correctly.
Structured Solutions AG has no obligation to point out errors in
the Indices to third parties.
Van Eck Securities Corporation, Distributor,
335 Madison Avenue, New York, NY 10017
VanEck Vectors Semicondu... (AMEX:SMH)
Gráfico Histórico do Ativo
De Nov 2024 até Dez 2024
VanEck Vectors Semicondu... (AMEX:SMH)
Gráfico Histórico do Ativo
De Dez 2023 até Dez 2024