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Market Vectors ETFs added to AMP approved product lists


Two of Van Eck Australia’s ETF funds are now approved for AMP licensees – AMP FP, Charter FP and Hillross. Market Vectors Australian Equal Weight ETF (ASX code: MVW) and Market Vectors Australian Banks ETF (ASX code: MVB) have been added to the AMP Approved Product List (APL).

“We are delighted that AMP has added MVW and MVB to its APL. Our ETFs offer investors a point of difference and are gaining strong traction among financial advisers and SMSFs.  For example, MVW, which currently equally weights 71 Australian securities avoids stock concentration in the Australian market,” says Matthew McKinnon, Director of Institutions and Intermediaries, Van Eck Australia. “There has been increasing demand from financial advisers for our ETFs. In particular, MVW has attracted advisers seeking greater diversification and long-term outperformance compared to traditional market capitalisation indices such as the S&P/ASX 200 Accumulation Index. Since its launch on 4 March 2014, MVW outperformed the S&P/ASX 200 Accumulation Index by 3.97 per cent per annum (at 31 August 2015), returning 5.85 per cent per annum.
“Similarly, MVB provides investors with something they haven’t had before – a portfolio that invests only in Australian banks.  MVB does not have other financials such as insurers.  MVB delivers the growth and yield of Australia’s seven largest banks, with the holdings capped at 20 per cent so one stock does not dominate. MVB is being used by investors seeking exposure to Australian banks in a simple, cheap and single-trade structure that removes the administration burden of corporate actions. 
“ETFs can be used to gain targeted exposure for clients’ portfolios at a lower cost than actively managed funds and with added benefits of transparency, intraday trading and liquidity.  These traits are what make ETFs so appealing.
“While there are other Market Vectors ETFs on the North Platform, MVW and MVB are the first Market Vectors ETFs to be approved for AMP’s APL. The North Platform is a leading platform among financial advisers. It has outstanding accessibility, decision support, product and transaction tools and good reporting, making it an attractive platform for ETF providers.”
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