ETF Securities launches CURE ETF
ETF Securities has launched its new CURE exchange-traded fund (ETF) on the Australian Securities Exchange (ASX), which will offer investors exposure to healthcare biotechnology companies.
CURE would follow the S&P Biotechnology Select Industry Index, which according to the company, achieved annual growth of 21.9 per cent in Australian dollar terms over the five years to 31 October 2018.
Additionally, the fund would hold more than 120 biotechnology firms in its portfolio, with a focus on small and mid-cap companies. The fund’s fee would stand at 0.45 per cent.
Head of ETF Securities Australia, Kris Walesby, said: “This is very much a high growth-oriented product.”
“Given the mainly mid- and small-cap profiles of the constituent stocks, we’d expect to see profitable M&A activity. We are pleased to be adding CURE to our ‘Future Present’ series of ETFs.”
Walesby also stressed that there would be demanding filters to be met before a company can be included in CURE, with companies needing to meet S&P Dow Jones Indices’ Float Adjustment liquidity requirements.
AUTHOR
Oksana Patron
Recommended for you
First Sentier Investors chief executive, Mark Steinberg, is set to depart the asset manager after seven years.
Metrics Credit Partners has completed the acquisition of Taurus Finance Group and BC Investment Group as it looks to launch consumer lending arm Navalo.
AMP has announced to the ASX that it is being sued by property fund manager Dexus regarding the sale of its real estate and domestic infrastructure equity business.
Having seen inflows of US$5.6 billion to its fixed income funds in the last quarter, Janus Henderson has closed on a deal with life insurer Guardian to secure funds to boost its product development.
