VanEck lowers management costs for CETF
VanEck has announced lower management costs for its Vectors ChinaAMC CSI 300 ETF (CETF) and said they have been reduced from 0.72 per cent to 0.6 per cent per annum.
In the company’s view, the change would allow investors to benefit from the opportunities and diversification potential offered by China’s onshore equity market, at a lower cost, the firm said.
At the same time, the adviser’s fee would remain unchanged.
Additionally, interest expense incurred by the fund from today until at least 1 May 2020 would be a capped expense included in management costs and not an additional uncapped transactional and operational cost, the firm said.
VanEck’s managing director and head of Asia Pacific, Arian Neiron, said that foreign investment into China was growing as local policymakers decided to gradually openi up the onshore market.
“China’s contribution to global gross domestic product is now comparable to the US, but may be underrepresented in many investors’ portfolios,” he said.
“We believe that attractive valuations and stimulus-driven growth should provide opportunities for investors going forward.”
AUTHOR
Oksana Patron
Recommended for you
Investment solution provider Channel Capital has appointed James Archer as its latest distribution director, joining from Pinnacle Investment Management.
Bennelong Funds Management has signed a memorandum of understanding with US private credit manager Monroe Capital to distribute its products in Australia.
Global equity manager Talaria Capital has appointed a Sydney-based sales director as it grows its distribution presence across Australia.
Global private markets firm Partners Group has launched an evergreen fund to provide Australian advisers with access to its cross-sector royalties strategy.
