BetaShares selects Rabobank
Exchange Traded Funds (ETF) specialist BetaShares has selected Rabobank Australia Limited to join its panel of authorised deposit-taking institutions for its product, the BetaShares Australian High Interest Cash ETF.
BetaShares is promoting it as providing attractive and regular income distributions combined with a high level of capital security.
All the assets of the ETF will be invested in high interest bank deposit accounts with a panel of banks regulated by the Australian Prudential Regulation Authority.
The Cash ETF, which was launched in March last year, was the most popular ETF in Australia, with net inflows in 2012 of approximately $125 million.
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
