Powered by MOMENTUM MEDIA
moneymanagement logo
 
 

Betashares launches first NZ offering

BetaShares/New-Zealand/ETFs/

16 June 2023
| By Laura Dew |
image
image image
expand image

ETF provider Betashares has expanded its offering to New Zealand and will launch five ETFs in the country.

This was the first time the firm had launched funds beyond Australia and followed a decision in 2021 to open an office in Auckland. The five ETFs would offer cost-effective exposure in a tax-efficient portfolio investment entity (PIE) structure.

The first five ETFs to launch in New Zealand are Global Sustainability Leaders, Australian Sustainability Leaders, Australia 200, Global Quality Leaders, and Australian Investment Grade Corporate Bond fund.

It is currently in the process of building out a local team, led by executive director — institutional and adviser services, Vinnie Wadhera, who had been at the firm for over a decade.

It would also launch new and comprehensive support services for New Zealand-based financial advisers including practice development service modules.

Chief executive, Alex Vynokur, said: “We’ve been actively servicing New Zealand clients since our inception and so the launch of locally domiciled funds is a natural extension for us. Betashares has been at the forefront of innovation in the Australian funds management industry since 2010, and we believe the time is right for us to take our involvement in New Zealand to the next level.

“As a business, we’re highly focused on growth in the next decade of our journey. We believe the New Zealand market is currently underserved in terms of high-quality and cost-effective investment options and we’re excited to address this opportunity by broadening the range of innovative investment solutions available to Kiwi investors.”

Betashares’ range of PIE funds are expected to be available on selected investment platforms from June 2023. Wholesale investors may also be able to make investments directly into the funds.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...

3 weeks 3 days ago

It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...

1 month ago

So we are now underwriting criminal scams?...

7 months ago

After last month’s surprise hold, the Reserve Bank of Australia has announced its latest interest rate decision....

3 weeks 4 days ago

WT Financial’s Keith Cullen is eager for its Hubco initiative to see advice firms under its licence trade at multiples which are catching up to those UK and US financial ...

4 weeks 1 day ago

While the profession continues to see consolidation at the top, Adviser Ratings has compared the business models of Insignia and Entireti and how they are shaping the pro...

1 week 3 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND