BetaShares grows distribution coverage

Amid uncertainty from financial advisers towards exchange-traded funds (ETFs), BetaShares has expanded its distribution coverage with 54 counts of its ETFs now available on the approved product lists (APLs) of 19 dealer groups and another 26 available across nine platforms.

BetaShares head of investment strategy Drew Corbett said the growth was an important step forward for the ETF industry.

In its December 2011 ETF report - in conjunction with Investment Trends - BetaShares found that 28 per cent of respondents were cautious of taking up the strategy because of a lack of third party research, while another 15 per cent cited the lack of available ETFs on platforms.

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Since then, Corbett said the industry has been changing, with more researchers taking a greater interest in ETFs and advisers demanding that they be available on more APLs and platforms.

"As an industry, we are heading in the right direction as ETFs become a more commonly used product for dealer groups and platforms as seen in overseas markets," Corbett said.

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