BetaShares launches new ETF
Exchange Trade Fund (ETF) specialist BetaShares has launched a new investment fund on the Australian Securities Exchange (ASX).
It said the BetaShares Geared Australian Equity Fund (hedge fund) would trade under the ASX Code "GEAR" and provide investors with a simple way to obtain a cost-effective geared exposure to the returns of the Australian share market.
BetaShares said the assets of the Geared Fund would generally comprise the 200 largest equity securities listed on the ASX weighted by market capitalisation, which are expected to earn dividends and franking credits for the fund, with the gearing ratio within the fund being managed between 50 and 65 per cent.
BetaShares managing director Alex Vynokur said that GEAR was intended to be a cost-effective alternative for investors considering or already invested in geared exposures such as margin loans or geared managed funds.
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