Asset Management firm Van Eck Global recently launched its Market Vectors-Gulf States Index ETF on the NYSE Arca.
The exchanged-traded fund, before management fees of .50% and total net expenses of .98%, tries to duplicate the yield performance and price of the Dow Jones Gulf Cooperation Council Titans 40 Index. In addition, the fund gives access for investors to the Gulf-area countries of Kuwait, Oman, Qatar, Bahrain, and United Arab Emirates.
The Gulf has been a huge beneficiary of high energy prices, resulting in vast spending on infrastructure and urbanization, said Jan van Eck, the head of Van Eck Global. Time will tell whether the economies can be diversified and growth can become more sustainable and less energy-dependent. ... We are pleased to now offer convenient access to a market that is becoming increasingly developed and compelling to investors.