BetaShares slashes fees on Aussie equity ETF
BetaShares has cut the management fee on its $2.6 billion Australia 200 exchange traded fund (ETF) to 0.04% per annum.
This was down from 0.07% and would take effect from 22 February, 2023.
Since launching in May 2018, the fund was the fastest ETF was reach $1 billion in assets under management, reaching it in November 2020.
BetaShares CEO, Alex Vynokur, said: “A200 changed the game for investors back in 2018, and as a result of our growing scale, we’re able to reduce fees for investors seeking exposure to Australian shares even further.
“A200’s fee reduction will make a meaningful difference to the total cost of owning a diversified portfolio of Australian shares at a time when retail and institutional investors alike are increasingly recognising the important role that cost and diversification play within their portfolios.”
Australian equity ETFs accounted for around $38.4 billion of the Australian ETF industry and the sector had seen $20 billion in net flows since the Australia 200 ETF was launched.
AUTHOR
Laura Dew
Recommended for you
Iress has announced it is strengthening its security settings after suffering an unauthorised access of its systems over the weekend.
Financial advice platform Otivo has made an experienced appointment from the US as its head of product strategy.
Apostle Funds Management has appointed the newly created position of director, head of wholesale as the firm expands its Australian footprint in the wholesale sector.
Recruitment manager Robert Half has shared the most in-demand roles in financial services that firms are finding difficult to fill, driven by ASIC’s growing focus on risk and compliance.
Add new comment