ANZ ETFS Management Limited has launched its new exchange traded fund (ETF), the ANZ ETFs Morningstar Global Technology ETF (TECH) which would offer Australian investors access to global technology stocks.
TECH, which would begin trading on the Australian Securities Exchange (ASX) today, would track the Morningstar Developed Market Technology Moat Focus Index, which comprised 32 stocks including the world’s largest listed technology companies such as Apple, Google and Microsoft.
The new ETF would also focus on undervalued, high-quality technology businesses that displayed potential to maintain a sustainable competitive advantage over the long-term.
It would be expected to have a management cost of 0.45 per cent per annum.
ANZ ETFs’ head, Kristian Walesby, said: “Technology is one of the largest sectors in global equities markets but tends to be under-represented in Australian investors’ portfolios”.
“This ETF provides an opportunity to diversify into quality global companies with industry-leading positions.”
The company said TECH was the latest ETF from ANZ ETFS, a joint venture between Australia and New Zealand Banking Group and ETF Securities, with the aim of designing an all-weather product suite to meet the needs of Australian investors.
