Van Eck [profile] is re-launching a year-old mutual fund, without changing its nuts and bolts much.

Last week the New York City-based mutual fund shop unveiled the Van Eck Long/Short Equity Index Fund, previously called the Van Eck Long/Short Equity Fund. Yet not much changed.

"The strategy was managed the same way," explains David Schassler, director of manager research at Van Eck.

The fund originally used a total return objective. Van Eck has been running the strategy for three years, and a year ago Van Eck launched a mutual fund version. Now the strategy has been formalized in an index, the Market Vectors North American Long/Short Equity Index.

The fund has about $5 million in assets. Van Eck also launched a variable annuity version of the fund. 

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