SSgA launches new ETF

ASX/ETFs/international-equities/australian-investors/

12 July 2013
| By Staff |
image
image image
expand image

State Street Global Advisors has launched a new product – an exchange traded fund (ETF) aimed at providing Australian investors with access to international equities while mitigating their currency risk.

The new product, launched this week, is the SPDR S&P World ex-Australia (Hedged) Fund. It started trading on the ASX on 9 July, with SSgA claiming it is the first product of its kind in Australia.

The company has since March been offering Australian investors access to an unhedged global equities ETF – the SPDR S&P World ex-Australia priced in Australian dollars and listed solely on the ASX.

It claims both products provide local investors with the ability to diversify their portfolio, with exposure to approximately 350 international equities in sectors that are either unavailable or more difficult to access in the Australian marketplace, which is top heavy with financial and resource stocks.

Commenting on the latest product launch, SSgA head of SPDR ETFs in Australia, Amanda Skelly, said the latest hedged version of SSgA’s global equities ETF reflected investor demand for access to the same selection of international companies while minimising the impact of currency changes on the value of their investment.

“There is certainly a loud and ongoing debate about the direction of the Australian dollar. But stripping away the noise, it is clear that, for many investors who are trying to achieve diversification, it is challenging enough without the added complexity of guessing where the currency is heading,” Skelly said.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

5 months ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

5 months 1 week ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

7 months 1 week ago

The FSCP has issued a written direction to an adviser who charged clients “extraordinary fees” for inappropriate and conflicted advice, as well as encouraged them to swit...

1 week 6 days ago

ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager. ...

3 weeks 2 days ago

ASIC has confirmed the industry funding levy for the 2024–25 financial year, and how much licensees can expect to pay....

3 days 22 hours ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
2
DomaCom DFS Mortgage
95.46 3 y p.a(%)
5