Market Vectors lists new ETF
Exchange Traded Fund (ETF) specialist Market Vectors listed its new Australian Equal Weight ETF on the Australian Securities Exchange (ASX) this week.
Market Vectors, which is the ETF business of US-based investment manager Van Eck Global, said the newly-listed product would give investors access to a broadly diversified portfolio of the most liquid large, mid and small-cap ASX-securities via a single trade on the ASX.
It said the fund currently holds 77 securities, all of which are equally weighted at approximately 1.3 per cent.
Commenting on the new product listing, Market Vectors Australia managing director Arian Neiron said he believed it provided investors with something they had not had before — the opportunity to invest equally in some of Australia's most successful companies, from big to small, in one transaction on the ASX.
"Many Australian share investors do not have exposure to mid and small-cap companies in their portfolios because traditional indices and broad-based unlisted managed funds invariably focus on a few big companies, resulting in a large-cap bias and increased concentration risk," he said.
Market Vectors now has five ETFs listed on the ASX.
Recommended for you
Unregistered managed investment scheme operator Chris Marco has been sentenced after being found guilty of 43 fraud charges, receiving the highest sentence imposed by an Australian court regarding an ASIC criminal investigation.
ASIC has cancelled the AFSL of Sydney-based Arrumar Private after it failed to comply with the conditions of its licence.
Two investment advisory research houses have announced a merger to form a combined entity under the name Delta Portfolios.
The top five licensees are demonstrating a “strong recovery” from losses in the first half of the year, and the gap is narrowing between their respective adviser numbers.
