VanEck launches new ETF
VanEck has launched its 14th exchange traded fund (ETF), the VanEck Vectors Australian Floating Rate ETF (FLOT), on the Australian Securities Exchange (ASX).
The new fund would offer investors exposure to a portfolio of Australian floating rate notes (FRNs) and would track the market benchmark for Australian FRNs, the Bloomberg AusBond Credit FRN 0+ Yr Index, which included around 208 Australian-issued FRNs from over 84 issuers.
VanEck Australia’s managing director, Arian Neiron, said: “We are delighted to offer our 14th ETF on the ASX, offering investors one trade access to a diversified portfolio of Australian Floating Rate Bonds.
“FLOT has been designed to be a potential solution for investors who are seeking a defensive source of income with a higher yield than cash investments in an easy-to-access and easily tradeable ETF.”
Recommended for you
As ASIC chair Joe Longo pushes firms to prepare for the upcoming mandatory climate disclosure regime, what skills are necessary if firms are looking to expand their ESG teams?
First Sentier Investors has announced it will close four of its Australian investment teams amid a simplification of the business, with $14 billion expected to be returned to investors.
Over 90 finalists have been chosen to compete at the 36th annual Fund Manager of the Year Awards, to be held in Sydney on 13 June.
Clients may be asking their adviser whether there is still value in the US technology names after their rally, but Fidelity International’s Lukasz de Pourbaix believes they can still offer upside.