State Street ETF goes live on ASX
Trading in State Street Global Advisers' latest exchange-traded fund (ETF) product — the SPDR S&P World ex-Australia — began on the Australian Securities Exchange (ASX) this week
The product is a global equities ETF designed specifically for Australian investors and trades under the ASX ticker WXOZ.
The company said the product was aimed at giving local investors exposure to international equities excluding Australian shares.
It said the product would offer investors an unhedged investment denominated in Australian dollars. SSgA said a hedged version of the ETF, designed to reduce the impact of currency fluctuations, is expected to launch shortly.
Amanda Skelly, SSgA's head of SPDR ETFs in Australia, said: "These ETFs will for the first time give Australian investors access to approximately 350 international equities, priced in Australian dollars and listed solely on the ASX."
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