Market Vectors Gulf States ETF Begins Trading

Van Eck Global announced the listing of the Market Vectors Gulf States Index ETF (MES) which invests in the markets of Bahrain, Kuwait, Oman, Qatar and United Arab Emirates (UAE).

MES tracks an index of companies either headquartered in countries belonging to the GCC or generating the majority of their revenues in countries belonging to the GCC.

At June 30, the index was concentrated in the banking, financial services and technology sectors, with banks and finance companies representing approximately 60% of the index.

The top three holdings were National Bank of Kuwait, Kuwait Finance House, and Emaar Properties, with weightings of approximately 8% each.

See the Van Eck Global directory for a complete listing.