Van Eck debuts Russian ETFs

Van Eck Associates Corp. of New York today announced it had launched the first exchange traded fund to offer investors exposure to Russian companies. The Market Vectors–Russia ETF (RSX) seeks to replicate the performance of the DAXglobal Russia+ Index, a basket of the securities of 30 of the most heavily traded Russian companies that have listings on global exchanges, either through an American Depository Receipt, a Global Depository Receipt, or local Russian shares. “As Russia continues to grow and mature, it will likely assume an increasingly important role in the global economy, and exposure to the country’s markets will be of growing interest to U.S. investors” Jan van Eck, principal at Van Eck, said in a statement. “As the first ETF listed in the U.S. to target Russia, we believe that RSX will appeal to anyone looking for a convenient means to access the market.”