BetaShares selects Rabobank
Exchange Traded Funds (ETF) specialist BetaShares has selected Rabobank Australia Limited to join its panel of authorised deposit-taking institutions for its product, the BetaShares Australian High Interest Cash ETF.
BetaShares is promoting it as providing attractive and regular income distributions combined with a high level of capital security.
All the assets of the ETF will be invested in high interest bank deposit accounts with a panel of banks regulated by the Australian Prudential Regulation Authority.
The Cash ETF, which was launched in March last year, was the most popular ETF in Australia, with net inflows in 2012 of approximately $125 million.
Recommended for you
The month of April enjoyed four back-to-back weeks of growth in financial adviser numbers, with this past week seeing a net rise of five.
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With the election taking place on Saturday (3 May), Adviser Ratings examines how the two major parties could shape the advice industry in the future.
