ETFS reduces fees on three funds
Exchange traded fund (ETF) provider ETF Securities has reduced fees on its Battery and Lithium ETF, ROBO Global Robotics and Automation ETF and Reliance India Nifty 50 ETF.
The Battery and Lithium, and ROBO ETFs had their recoverable expense fee cut from 0.13% to zero, while the management fee remained at 0.69%.
The Reliance India Nifty 50 ETF had changed its name to ETFS-NAM India Nifty 50 ETF to reflect the updated name of the distribution partner, Nippon India AMC, which was formerly Reliance Nippon Asset Management.
Its management fee had been cut from 0.85% to 0.69% and recoverable expense fee had been cut from 0.15% to zero.
Evan Metcalf, ETF Securities head of product, said the company undertook a review of management fees with the aim to simplify the structure into a single management fee number, offering investors increased transparency over the fees they pay on their investments.
“These changes also bring the three funds into line with the rest of the available investment range at ETF Securities, none of which routinely charge additional recoverable expenses on top of their management fees,” Metcalf said.
Each fund would continue to be managed according to their previously stated investment objectives and the structure of the funds was unchanged.
According to FE Analytics, over the year to 31 January, the Battery and Tech ETF returned 56.15%, ROBO returned 35.48% and the India ETF lost 4.28%.
Performance of the three ETFs over the 12 months to 31 January 2021
AUTHOR
Chris Dastoor
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