Exchange-traded fund provider WisdomTree has launched two more ETFs in its Currency Income series, the WisdomTree Dreyfus New Zealand Dollar Fund and WisdomTree Dreyfus South African Rand
Exchange-traded fund provider WisdomTree has launched two more ETFs in its Currency Income series, the WisdomTree Dreyfus New Zealand Dollar Fund and WisdomTree Dreyfus South African Rand Fund, on the NYSE Arca stock market.
‘In just six weeks, our Currency Income family has taken in approximately USD350m in assets,’ says WisdomTree president and chief executive Bruce Lavine, who says ETF series allows US investors to gain exposure to non-US money market yields and their associated currency movements.
‘We wholeheartedly believe the ETF structure is the most competitive structure for international cash assets and will continue to build out this product line. New Zealand and South Africa are particularly interesting countries, as they are currently among the highest-yielding currencies in the developed and developing markets respectively.’
The WisdomTree Dreyfus Currency Income family also includes the WisdomTree Dreyfus Chinese Yuan Fund, WisdomTree Dreyfus Indian Rupee Fund, WisdomTree Dreyfus Brazilian Real Fund, WisdomTree Dreyfus Euro Fund and WisdomTree Dreyfus Japanese Yen Fund.
The ETFs seek to earn current income that reflects the money market rates available to US investors in the specified country or region, and to provide exposure to changes in the value of the designated currency relative to the US dollar.
Each ETF discloses its full portfolio holdings on a daily basis. Although each ETF invests in very short-term, investment-grade instruments, the ETFs are not money market funds and it is not their objective to maintain a constant share price.