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."
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
