VanEck is planning to drop the Vectors branding across its European ETF portfolio in a bid to streamline its product marketing.
In a notice to shareholders, VanEck said the move would see its current name change from VanEck Vectors UCITS ETFs plc to VanEck UCITS ETFs plc to reflect its “growing global presence”.
Subject to shareholder approval, the change would see the removal of the Vectors brand across 17 of its European ETFs. It added the ticker for each ETF would remain unchanged.
The group said: “The directors are proposing to change the name of the company to facilitate a move to a universal brand in support of VanEck’s growing global presence and to avoid any potential confusion in relation to the future marketing of the company and its sub-funds.”
VanEck opened its first Europe office in 2008 with a focus on the index business under the MVIS brand.
It launched its first UCITS ETF in 2015 and three years later acquired Dutch ETF provider Think ETF Asset Management to broaden its European portfolio, rebranding its then 14-strong product range under the name VanEck Vectors, the name of its global ETF business launched in 2006.
The proposal will be voted upon at their annual general meeting on 31 January with the change set to take place on 16 February.