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BetaShares launches ETFs on Australian Stock Exchange

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BetaShares Capital has entered the exchange-traded funds market with the launch of two products on the Australian Stock Exchange.



BetaShares’ initial ETFs track the performance of the resources sector and the financial sector (excluding property trusts) of the ASX.

The ETFs are BetaShares S&P/ASX 200 Financials Sector ETF and BetaShares S&P/ASX 200 Resources Sector ETF (Synthetic).

BetaShares intends to launch, early in 2011, Australia’s first currency ETF, tracking the performance of the US dollar against the Australian dollar.

Drew Corbett, head of product strategy at BetaShares, says: "Although ETF use is increasing in Australia, local investors have had limited product choice compared with investors in Europe or the US. We believe Australian investors deserve better.”

Richard Murphy, general manager, equity markets for the Australian Stock Exchange, says: "BetaShares brings a new approach to ETFs in Australia – one that brings Australia up to speed with the latest trends and innovative structures available in ETF markets in the US and Europe. ASX looks forward to working with BetaShares to help grow the ETF market in Australia and to educate investors about the broad range of available ETF products."

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