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Market Vectors to change underlying index of Solar Energy ETF

Effective on or about 18 March, Market Vectors Solar Energy ETF (KWT) will begin tracking the Market Vectors Global Solar Energy Index (MVKWTTR).

MVKWTTR uses the Market Vectors index methodology that focuses on investability, diversification and pure-play exposure to the relative asset class.

This methodology is shared by the benchmark indexes of several other Market Vector ETFs, including Brazil Small-Cap (BRF), Indonesia (IDX), Junior Gold Miners (GDXJ), Oil Services (OIH), Russia (RSX), Semiconductor (SMH) and Vietnam (VNM).

MVKWTTR is a rules based, modified capitalisation-weighted, float-adjusted index that seeks to track the performance of the global solar energy segment. Similar to other Market Vectors indices, MVKWTTR is built specifically for ETFs.

The index employs constituent weighting caps that will help diversify the ETF among more names in the global solar energy segment, while extensive liquidity screens are used to enhance the tradability of the ETF. Additionally, to create an index representative of the industry, its rules require that constituents generate at least 50 per cent of their revenues from the global solar energy segment. The constituent names and weights of every Market Vectors index, including MVKWTTR, are provided daily on the Market Vectors Index Solutions website.

MVMKWTTR was developed, and is published by Market Vectors Index Solutions (MVIS), a Germany-based wholly owned subsidiary of Van Eck Associates. MVIS develops, markets and licenses Market Vectors branded indexes. In total, approximately USD8.7bn in assets under management are linked to exchange-traded products using Market Vectors indexes, as of 30 September 2012.

The etfexpress Awards 2013 for the top ETF product and service providers will be held in London towards the end of Q1 2013. Please click here to nominate your product/firm.

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