Van Eck unveils first Global Hard Assets ETF

Asset manager Van Eck Global, based in New York, has launched its Market Vectors-RVE Hard Asset Producers exchange-traded fund (ETF), the first of its kind, on the American Stock Exchange (Amex).

The ETF aims to replicate the performance of the Rogers-Van Eck Hard Assets Producers Index (RVEI), a global benchmark for commodity equities comprising 321 companies in 40 countries and six sectors, as measured at the end of August. The companies constituting the index are the largest, publicly-traded companies engaged in the production and distribution of hard assets and related products and services, meaning the index captures more than 90% of the industry’s global stock and market