Van Eck offers Second Munibond ETF

January 7, 2008

SAN DIEGO (ETFguide.com) - Van Eck Global has launched the Market Vectors-Lehman Brothers AMT-Free Long Municipal Index ETF (Amex: MLN).

The new fund tracks the Lehman Brothers AMT-Free Long Continuous Municipal Index and is designed to offer exposure to investment-grade municipal bonds with a nominal maturity of 17 years or more.

Municipal bonds in the underlying Lehman Brothers index are investment grade and AMT-free.

The expense ratio for MLN is 0.24 percent and the fund is listed on the American Stock Exchange.

This new ETF joins the Market Vectors-Lehman Brothers AMT-Free Intermediate Municipal Index ETF (ticker: ITM), launched by the company in December.

Other ETFs managed by Van Eck are the Market Vectors Environmental Services ETF (Ticker: EVX), the Russia ETF (Ticker: RSX) and the Market Vectors Steel ETF (Ticker: SLX).

Van Eck Associates was founded in 1955 and focuses its expertise on emerging markets, precious metals, and other specialized asset classes. As of December 31, 2007 the New York-based investment firm managed just over $9 billion.