Vanguard Investments has announced it will expand its presence in the exchange-traded fund (ETF) market with the introduction of three new ETFs that will track segments of the Australian share market.
Robyn Laidlaw, head of product development and management, said this would bring the number of Vanguard’s low cost index-based ETFs trading on the Australian Securities Exchange (ASX) to seven.
“These new funds have been developed in line with our product development philosophy, which is based on diversification and cost efficiency,” she said.
Vanguard stated it developed the ETFs in answer to the growing appetite for the funds among advisers and individual investors as they become more familiar with their features.
The three new ETFs are expected to commence trading around the end of May.
