New York-based investment manager Van Eck Global announced that it is contractually lowering the expense cap of its Market Vectors Indonesia Index ETF (ticker: IDX) and Market Vectors Poland ETF (ticker: PLND), effective today. Investors in these funds will pay lower fees as a result of these reductions.

The IDX expense cap was cut from 0.68% to 0.60%. The PLND expense cap was lowered from 0.65% to 0.60%. These expense reductions will remain in effect at least until May 1, 2012. The gross expense ratios for these funds are 0.72% and 7.31%, respectively.

“International funds generally have higher net expense ratios than domestic funds but we try to pass on lower expenses to shareholders as we achieve economies of scale,” said Jan van Eck, Principal at Van Eck Global.”

IDX and PLND both offer comprehensive coverage as they include publicly traded companies deriving at least 50% of their revenues in their target country even if those companies are domiciled or headquartered elsewhere. Constituents and weights of both ETFs are updated and published daily and are accessible for free. Constituent weights are capped at 8% and each must meet minimum requirements for market capitalization and daily trading volume.

As of December 31, 2010, Van Eck Global had approximately $20B in ETF assets under management, making it the sixth largest provider of ETFs in the United States and eighth largest worldwide. It offers 29 ETFs under its Market Vectors brand. These funds focus on international markets, hard assets, municipal bonds and other fixed income investment categories.

IDX and PLND are two of 11 international Market Vectors ETFs. Others include ETFs focused on Africa (AFK), Brazil (BRF), China (PEK), Egypt (EGPT), Gulf States (MES), India (SCIF), Latin America (LATM), Russia (RSX) and Vietnam (VNM).

About Van Eck Global

Founded in 1955, Van Eck Associates Corporation was among the first U.S. money managers helping investors achieve greater diversification through global investing. Today the firm continues that 50+ year tradition by offering global investment choices in hard assets, emerging markets, precious metals including gold, and other specialized asset classes.