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First Puerto Rico ETF Planned

Van Eck Associates registered an ETF focused on Puerto Rico and other U.S. territories, which may debut in 2014 or later this year.

By Brian Chappatta, Bloomberg | Updated on October 18, 2013

Van Eck Associates Corp. is moving ahead with an exchange-traded fund (ETF) focused on Puerto Rico and other U.S. territories—the first of its kind—even amid the biggest losses for the island’s securities since at least 1999.

The New York-based company registered the Market Vectors Puerto Rico Municipal Index ETF with the U.S. Securities and Exchange Commission (SEC) in August, regulatory filings show. Jim Colby, a senior municipal strategist at Van Eck who would co-manage the fund, said it may debut this year or in 2014, depending on feedback from the SEC.

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