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Van Eck Launches New Treasury-Backed Muni ETF
By Tom Lydon on February 4, 2009 | More Posts By Tom Lydon | Author's Website
Van Eck is launching a new municipal bond exchange traded fund (ETF) that comes with a Treasury backing, perfect for the market conditions and any timid investors.
The providers’ latest ETF is a perfect mix of tax advantages, with back-up risk protection with the U.S. Treasury securities. The timing is nice for the new fund, as investors want alternatives to equities. While the unpredictable market conditions are not exactly investor-friendly, the Treasury backing should help ease some nerves.
Hannah Glover on Ignites reports that the new ETF is Market Vectors Pre-Funded Municipal Bond Index ETF (PRB) and it is the first to dabble in this fixed-income alternative, with pre-funded muni’s. The muni-bonds are backed by the U.S. Treasury and are made up of the highest quality and fully liquid issues within this market. This also means there is no counter party risk that is common among the corporate bonds.
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