MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, November 22, 2024 Jan Celebrates a Global VanEck Pearl Jan van Eck and his team are celebrating the pearl anniversary one of the 69-year-old, $118.3-billion-AUM (as of September 3) asset manager's "longest-tenured strategies.
The VanEck Global Hard Assets Fund launched on November 2, 1994, and the VanEck team rebranded the fund as the VanEck Global Resources Fund on May 1, 2021. The 30-year-old, actively mangaed, open-end mutual fund "provides equity exposure to energy, precious and base metals, agriculture, alternative energy, and other resources," according to the VanEck team. The VanEck Global Resources Fund comes in four flavors: A shares (GHAAX), with an expense ratio of 138 basis points (baking in a 7bps fee waiver), plus a maximum upfront load of 500bps; C shares (GHACX), with an expense ratio of 220bps (baking in a 25bps fee waiver), plus a max deferred load of 100bps; Y shares (GHAYX), with an expense ratio of 111bps; and I shares (GHAIX), with an expense ratio of 95bps (including a 13bps fee waiver) and a $1-million minimum initial investment requirement. As of October 31, 2024 (i.e. about three weeks ago), the fund had $587.8 million in AUM. Van Eck Associates Corporation serves as the VanEck Global Resources Fund's investment advisor. Reynolds has served as the fund's PM since 2010, and Charles Cameron has served as deputy PM since 2016. Jan van Eck puts the recent fund milestone in the context of the company's broader efforts "to provide investors access to diverse asset classes by building teams with deep subject matter expertise to help guide the exposures [VanEck is] providing." "The team behind the Global Resources Fund is an excellent example of this approach in action, and I join my colleagues in marking this significant anniversary" Jan van Eck states. Reynolds describes the VanEck Global Resources Fund's lifetime so far as "a time of tremendous change across the space, from technological advancements to how specific resources are utilized." "We're very excited about what the next decade will bring," Reynolds states. "Resource demand remains a key underlying force across the global economy, and as new applications for resources emerge, in areas such as AI, renewable energy and agriculture, we see continued need for robust exposure to the asset class." The VanEck Global Resources Fund is a series of VanEck Funds. The birthday fund's other service providers include: PricewaterhouseCoopers LLP as independent accounting firm; SS&C GIDS, Inc. as transfer agent; State Street Bank and Trust Company as custodian and securities lending agent; Stradley Ronon Stevens and Young LLP as counsel; and Van Eck Securities Corporation as distributor. Printed from: MFWire.com/story.asp?s=68204 Copyright 2024, InvestmentWires, Inc. All Rights Reserved |
