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.”
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