BetaShares and Legg Mason launch emerging market ETF
BetaShares and Legg Mason have launched their fourth active exchange trade fund (ETF), the BetaShares Legg Mason Emerging Markets Fund (EMMG) which will provide investors with access to emerging market equities.
The new fund would be managed by Legg Mason affiliate, Martin Currie, a high-conviction manager that managed the unlisted Australian managed fund version of the emerging markets strategy on which EMMG was based.
Legg Mason managing director, Australia and New Zealand, Andy Sowerby, said that the expectation was that emerging markets would continue to dominate world economic production and would lead future global economic expansion. These economies would also be at the forefront of the global technology revolution thanks to a growing number of tech companies and their young and tech-savvy populations.
“The faster growth in emerging markets is underpinned by strong secular trends such as a fast-growing middle class, urbanisation, digitisation and social reform. Our new active ETF (EMMG) has been designed to invest in those companies that are capitalising on these trends,” Sowerby said.
Commenting on the launch of the new fund, BetaShares’ chief executive, Alex Vynokur, added that Australian investors continued to seek new opportunities to diversify the equities allocation of their portfolios beyond the highly concentrated domestic sharemarket.
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