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.
Recommended for you
In the latest Meet the Manager profile, Money Management speaks with Michael Skinner, founder and managing director at Blackwattle Investment Partners.
Perpetual has seen AUM rise 6 per cent in the last quarter but the departure of a longstanding JOHCM fund manager led to outflows of $2.2 billion from his strategy.
Global fixed income fund Bentham Global Opportunities has been added to several major platforms, enabling it to be accessed more easily by financial advisers.
Following yesterday’s news about First Sentier Investors closing four investment teams, a second global asset manager has announced it is closing its only dedicated Australian fund.