ETF Securities launches CURE ETF
ETF Securities has launched its new CURE exchange-traded fund (ETF) on the Australian Securities Exchange (ASX), which will offer investors exposure to healthcare biotechnology companies.
CURE would follow the S&P Biotechnology Select Industry Index, which according to the company, achieved annual growth of 21.9 per cent in Australian dollar terms over the five years to 31 October 2018.
Additionally, the fund would hold more than 120 biotechnology firms in its portfolio, with a focus on small and mid-cap companies. The fund’s fee would stand at 0.45 per cent.
Head of ETF Securities Australia, Kris Walesby, said: “This is very much a high growth-oriented product.”
“Given the mainly mid- and small-cap profiles of the constituent stocks, we’d expect to see profitable M&A activity. We are pleased to be adding CURE to our ‘Future Present’ series of ETFs.”
Walesby also stressed that there would be demanding filters to be met before a company can be included in CURE, with companies needing to meet S&P Dow Jones Indices’ Float Adjustment liquidity requirements.
AUTHOR
Oksana Patron
Recommended for you
Some 42 per cent of CEOs say they are actively reinventing their business to stay relevant in the next decade, with consumer services the most common choice for asset and wealth managers.
Former Ophir Asset Management chief executive, George Chirakis, has joined private equity manager Scarcity Partners, while the asset manager has appointed a replacement from Macquarie.
Australian Unity has appointed a fund manager for its Healthcare Property Trust, joining from Centuria Healthcare, as it restructures the product with a series of senior appointments.
Financial advisers nervous about the liquidity of private markets funds for their retail clients are the target of fund managers launching semi-liquid products which offer greater flexibility and redemptions.
