NEW YORK--(BUSINESS WIRE)--Harvey Hirsch will retire from his role as head of marketing for Van Eck Global effective later this year, it was announced today by Jan van Eck, chief executive officer at Van Eck Associates Corporation.
Hirsch first began consulting with Van Eck in 2003, and joined the company full time in 2007 as senior vice president – marketing. His 12-year tenure was a time of extraordinary growth for Van Eck, with assets under management (AUM) climbing from approximately $1.3 billion to more than $32 billion.
During that period, the company dramatically expanded its presence in the exchange-traded fund (ETF) marketplace, introducing more than 60 new ETFs – including multiple industry “firsts” – under the Market Vectors brand, and rising to become one of the largest ETF families in the U.S. and worldwide. In addition, Van Eck brought out a number of new open-end funds and fund share classes, dramatically increased its presence in Europe, Latin America and Australia, and completed the acquisition from Merrill Lynch of six funds in the HOLDRS family.
Hirsch has spent most of his almost 50-year business career in the financial services sector.
About Van Eck Global: Founded in 1955, Van Eck Global was among the first U.S. money managers helping investors achieve greater diversification through global investing. Today the firm continues this tradition by offering innovative, actively managed investment portfolios in hard assets, emerging markets, precious metals including gold, fixed income, and other alternative asset classes. Market Vectors ETPs have been offered since 2006 and span many asset classes, including equities, fixed income (municipal and international bonds) and currency markets. Many of our ETFs are based on pure-play indexes, whose constituents must derive a majority of revenues from the target region/sector.
Van Eck Global currently manages assets on behalf of more than 400 institutions including endowments, foundations, hospitals, pensions, and private banks. In addition, we offer the Van Eck VIP insurance funds, a series of investment choices within the variable annuity contracts and variable life policies of widely known and highly regarded insurers.
Market Vectors ETFs are not mutual funds and their shares are not individually redeemable and are only issued and redeemed at their NAV through certain authorized broker-dealers in large, specified blocks of shares called “creation units” and otherwise can be bought and sold only through exchange trading. Creation units are issued and redeemed principally in kind. Shares of Market Vectors ETFs may trade at a premium or discount to their NAV in the secondary market.
Investing involves substantial risk and high volatility, including possible loss of principal. Bonds and bond funds, in general, will decrease in value as interest rates rise. An investor should consider the investment objective, risks, charges and expenses of a Fund carefully before investing. To obtain a prospectus and summary prospectus, which contain this and other information, call 800.826.2333 or visit vaneck.com. Please read the prospectus and summary prospectus carefully before investing.
Not FDIC Insured — No Bank Guarantee — May Lose Value
Van Eck Securities Corporation, Distributor, 335 Madison Avenue, New York, NY 10017
