VanEck has partnered with Brazil-based depository bank, Banco Bradesco S.A. to create four VanEck Exchange Traded Funds.
“Brazil has a fast-growing and highly sophisticated investor marketplace, and we are very excited to be making these funds available via the Brazilian Depository Receipt process,” Jan van Eck, CEO with VanEck, said.
The four funds set to launch are VanEck Gold Miners under trading name GDXB and Ticker GDXB39; VanEck Morningstar Wide Moat under trading name MOTB and Ticker MOTB39; VanEck Steel and VanEck Social Sentiment under trading number SLXB and Ticker SLXB39. The funds will be available to Brazilian investors as Brazilian Depository Receipts.
Currently managing roughly $78.6 billion assets worldwide, the firm specializes in offering investment opportunities and diversifying portfolios, a recent press release reports.
Known as one of the first U.S asset managers to pursue an international expansion, the New York-based company contributed to the gold investing era in 1968, emerging markets in 1993 and most recently, the global creation of exchange traded funds.
“We look forward to further engaging with investors in Brazil and continuing to bring more of our lineup of industry-leading investment solutions to market via the BDR approach,” van Eck said.