Van Eck to Announce India Small-Cap ETF

Van Eck Global has scheduled the August 25, 2010, announced launch of its Market Vectors India Small-Cap Index ETF (SCIF). 

A news release said Van Eck believes that small cap stocks can often provide the best exposure to a country’s domestic growth dynamics.

SCIF is the second ETF on the market to focus on India’s small-cap market. As of June 30, 2010, SCIF offered a large constituent base with 122 holdings and provided exposure to growth opportunities of smaller-cap companies as it has a low average market capitalization of $456 million.

In addition, its underlying index makes constituents and their weights publically available daily at no cost and requires constituents to meet minimum liquidity levels in order to be considered for inclusion in the underlying index.

SCIF seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors India Small-Cap Index (MVSCIFTR), which uses a float-adjusted modified market capitalization-weighting methodology.

Index constituents must have a market cap of at least $150 million, a three-month average daily trading volume value of at least $1 million, and minimum trading volume of 250,000 shares each month over the last six months on a rebalancing date.

More information is at