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.
