Market Vectors China ETFs Will Release Cap Gains Tax Reserve Back to ETFs
20 December 2014 - 09:45AM
Business Wire
As a result of recent changes to China’s tax regime attributable
to certain securities held by the Market Vectors ChinaAMC A-Share
ETF (NYSE Arca: PEK®) and the Market Vectors ChinaAMC SME-ChiNext
ETF (NYSE Arca: CNXT), these Funds will release their capital gains
tax reserves back to shareholders at market close on December 22,
2014, it was announced today. The release of reserves are expected
to add $0.02 per share to PEK’s Net Asset Value and are expected to
have no share impact to CNXT’s Net Asset Value.
PEK seeks to replicate as closely as possible, before fees and
expenses, the price and yield performance of the CSI 300 Index. The
CSI 300 Index consists of 300 A-Share stocks listed on the Shenzen
or Shanghai Stock Exchange. CNXT seeks to replicate as closely as
possible, before fees and expenses, the price and yield performance
of the SME-ChiNext 100 Index. The SME-ChiNext Index consists of the
100 largest and most liquid stocks listed and trading on the Small
and Medium Enterprise (“SME”) Board and the ChiNext Board of the
Shenzhen Stock Exchange.
About Market Vectors ETFs
Market Vectors exchange-traded products have been offered since
2006 and span many asset classes, including equities, fixed income
(municipal and international bonds) and currency markets. The
Market Vectors family is one of the largest providers of ETFs in
the U.S. and worldwide.
Market Vectors ETFs are sponsored by Van Eck Global. Founded in
1955, Van Eck Global was among the first U.S. money managers
helping investors achieve greater diversification through global
investing. Today, the firm continues this tradition by offering
innovative, actively managed investment choices in hard assets,
emerging markets, precious metals including gold, and other
alternative asset classes. Van Eck Global has offices around the
world and managed approximately $29.7 billion in investor assets as
of November 30, 2014.
Market Vectors ChinaAMC SME-ChiNext ETF and Market Vectors
ChinaAMC A-Share ETF (“the Funds”) are subject to elevated risks
associated with investments in securities of Chinese securities,
including A-Shares, which include, among others, risks associated
with the RQFII regime, political and economic instability,
inflation, confiscatory taxation, nationalization and
expropriation, market volatility, less reliable financial
information, differences in accounting, auditing, and financial
standards and requirements from those applicable to U.S. issuers,
and uncertainty of implementation of existing Chinese law. In
addition, the Funds are also subject to liquidity and valuation
risks, currency risk, non-diversification risk, and other risks
associated with foreign and emerging markets investments.
Investments concentrated in companies of smaller capitalization or
in certain sectors are subject to greater risks than more
diversified investments.
CSI 300 Index and its logo are service marks of China Securities
Index Co., Ltd. (“CSI”) and have been licensed for use by Van Eck
Associates Corporation. The Market Vectors ChinaAMC A-Share ETF is
not sponsored, endorsed, sold or promoted by CSI and CSI makes no
representation regarding the advisability of investing in the
Market Vectors ChinaAMC A-Share ETF.
Fund shares are not individually redeemable and will be issued
and redeemed at their NAV only through certain authorized
broker-dealers in large, specified blocks of shares called
“creation units” and otherwise can be bought and sold only through
exchange trading. Creation units are issued and redeemed
principally in kind. Shares may trade at a premium or discount to
their NAV in the secondary market.
Investing involves substantial risk and high volatility,
including possible loss of principal. An investor should consider
the investment objective, risks, charges and expenses of the Fund
carefully before investing. Please refer to the prospectus for
complete risk information. To obtain a prospectus and summary
prospectus, which contains this and other information, call
888.MKT.VCTR or visit marketvectorsetfs.com. Please
read the prospectus and summary prospectus carefully before
investing.
MacMillan CommunicationsMike MacMillan/Chris Sullivan,
212-473-4442chris@macmillancom.com