VanEck Announces Revised Net Asset Value Information for VanEck Africa Index ETF

Rhea-AI Summary

VanEck announced a restatement of the net asset value (NAV) per share for the VanEck Africa Index ETF (Ticker: AFK) originally reported on August 10, 2022. The original NAV was $18.2038, now restated to $17.8893, reflecting a decrease of 1.73%. This adjustment was due to an error in the initial NAV calculation. As of July 31, 2022, VanEck managed approximately $70.8 billion in assets across various investment vehicles. The firm emphasizes a commitment to identifying market trends and managing investment risks.

Positive

• VanEck managed approximately $70.8 billion in assets as of July 31, 2022.
• The company highlights its history of identifying impactful investment trends.

Negative

• The NAV for VanEck Africa Index ETF was restated downward by 1.73% due to a calculation error.
• Investments in AFK are subject to various risks including volatility and regulatory changes.

NEW YORK--(BUSINESS WIRE)-- VanEck announces the net asset value (NAV) per share of the VanEck Africa Index ETF (Exchange: NYSE Arca, Inc.) was restated as shown below:

ETF Name	Ticker	Original NAV 8/10/2022	Restated NAV 8/10/2022	Change (%)
VanEck Africa Index ETF	AFK	$ 18.2038	$ 17.8893	-1.73%

This value differs from the previously disclosed NAV. The NAV adjustment is a result of an error in calculating the NAV for VanEck Africa Index ETF.

About VanEck

VanEck has a history of looking beyond the financial markets to identify trends that are likely to create impactful investment opportunities. We were one of the first U.S. asset managers to offer investors access to international markets. This set the tone for the firm’s drive to identify asset classes and trends – including gold investing in 1968, emerging markets in 1993, and exchange traded funds in 2006 – that subsequently shaped the investment management industry.

Today, VanEck offers active and passive strategies with compelling exposures supported by well-designed investment processes. As of July 31, 2022, VanEck managed approximately $70.8 billion in assets, including mutual funds, ETFs and institutional accounts. The firm’s capabilities range from core investment opportunities to more specialized exposures to enhance portfolio diversification. Our actively managed strategies are fueled by in-depth, bottom-up research and security selection from portfolio managers with direct experience in the sectors and regions in which they invest. Investability, liquidity, diversity, and transparency are key to the experienced decision-making around market and index selection underlying VanEck’s passive strategies.

Since our founding in 1955, putting our clients’ interests first, in all market environments, has been at the heart of the firm’s mission.

Important Disclosures

An investment in AFK may be subject to risks which include, among others, investing in African issuers, South African issuers, foreign securities, emerging and frontier market issuers, currency, depositary receipts, basic materials sector, communication services sector, financials sector, small- and medium-capitalization companies, cash transactions, equity securities, market, operational, index tracking, authorized participant concentration, no guarantee of active trading market, trading issues, passive management, fund shares trading, premium/discount risk and liquidity of fund shares and concentration risks, all of which may adversely affect the Fund. Foreign and frontier markets investments are subject to risks, which include changes in economic and political conditions, foreign currency fluctuations, changes in foreign regulations, changes in currency exchange rates, unstable governments, restrictions of foreign ownership, and limited trading capacity which may make these investments volatile in price or difficult to trade. Small- and medium-capitalization companies may be subject to elevated risks.

Investing involves substantial risk and high volatility, including possible loss of principal. 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.

©️ Van Eck Securities Corporation, Distributor, a wholly owned subsidiary of Van Eck Associates Corporation

View source version on businesswire.com: https://www.businesswire.com/news/home/20220811005585/en/

800.826.2333

Source: VanEck

FAQ

What was the original NAV of the VanEck Africa Index ETF (AFK)?

The original NAV was $18.2038.

What is the restated NAV for the VanEck Africa Index ETF (AFK)?

The restated NAV is $17.8893.

What caused the NAV adjustment for the VanEck Africa Index ETF?

The adjustment was due to an error in calculating the NAV.

What significant assets does VanEck manage?

As of July 31, 2022, VanEck managed approximately $70.8 billion in assets.

What are the risks associated with investing in the VanEck Africa Index ETF (AFK)?

Investors face risks including market volatility, currency fluctuations, and regulatory changes.