BetaShares has selected Rabobank Australia to join its panel of authorised deposit-taking institutions for the BetaShares Australian High Interest Cash ETF.
Trading under the ASX Code “AAA”, BetaShares’ Cash ETF aims to provide attractive and regular income distributions combined with a high level of capital security. All the assets of the ETF are invested in high interest bank deposit accounts with a panel of banks regulated by APRA in Australia.
The Cash ETF, which was launched in March 2012, was the most popular ETF in Australia by way of net inflows in 2012 with approximately AUD125m of net flows.
Rabobank Australia is a wholly owned Australian subsidiary of the Netherlands-based Coöperatieve Centrale Raiffeisen-Boerenleenbank and is part of the global Rabobank Group.
“We are excited to be adding a deposit taking institution with the pedigree and strength of Rabobank to the bank panel of our Cash ETF. We believe that the product is well placed to continue to provide attractive income returns to Australian investors. Recent approval of the Cash ETF on some of the leading Australian wrap platforms paves the way for many investors and financial advisors to access competitive returns on cash,” says Alex Vynokur, managing director at BetaShares.