Global X launches currency-hedged FANG ETF

Global X ETFs technology ETFs

9 July 2024
| By Laura Dew |
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​Global X has launched a currency hedged version of its FANG+ ETF investing in next-generation technology.

The ETF, which has the ticker FHNG, will provide exposure to 10 technology companies, providing innovation across the technology space, including the Magnificent Seven stocks of Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla.

The fund aims to provide investors with a return that (before fees and expenses) tracks the performance of the NYSE® FANG+™ Index (AUD Hedged), with a competitive management fee of 0.38 per cent per annum.

The original FANG+ ETF was launched back in 2020 and currently has $645 million in net assets.

Global X described the ETF as offering a “core building block for growth-orientated portfolios”.

Evan Metcalf, chief executive of Global X, said the decision had been taken to launch a currency-hedged version of the product as a way for Australian investors to minimise currency risk.

“The Australian dollar has softened considerably over the past two years, and given this fluctuation, our clients are seeking to include AUD-hedged products in their portfolios. Given FANG is entirely exposed to the USD, FHNG presents a strategic way to achieve this minimised currency risk, while still offering a high growth opportunity,” Metcalf said.

“Global X remains at the forefront of capitalising on the significant potential of emerging macrotrends driven by technological advancements. With innovations such as cloud computing and artificial intelligence having only just scratched the surface, we are committed to offering investors solutions that engage with these transformative and long-term structural trends.”

 

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