The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Van Eck Registers Gold Miners ETF Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, May 08, 2006

Van Eck Registers Gold Miners ETF

by: Marie Glancy

There may soon be a fund to track the Amex Gold Miners Index. Van Eck Associates Corp. has registered an ETF that would track the index's shares of publicly traded gold mining outfits, reports Dow Jones Newswires.

Though the Amex Gold Miners Index was established in October 2004, the Market Vectors Trust, now awaiting approval by regulators, would be the first ETF tying its fortunes to the success of mining companies rather than to the value of gold bullion itself. The Amex index -- the value of which has more than doubled since its introduction -- listed 43 names as of May 4, including Newmont Mining Corp., Barrick Gold Corp., and Goldcorp Inc. The companies are all involved primarily in mining for gold and silver, and have market capitalizations over $100 million.

Van Eck is betting the fund can add another dimension to any further gains chalked up by bullion ETFs like StreetTracks Gold Trust and iShares Comex Gold Trust. Van Eck's proposed Market Vectors Trust has a total expense ratio of 55 basis points, versus an average expense ratio of 160 basis points for most precious metals mutual funds. Broker commissions apply to ETFs, however, and not to mutual fund shares.  

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use