Global healthcare and agricultural ETFs launch
Australian exchange traded fund (ETF) provider, BetaShares, has launched two new ETFs that track the global healthcare and global agricultural sectors.
The ETFs aimed to minimise currency fluctuations on portfolio performance, and they were both hedged to Australian dollars.
BetaShares Global Healthcare ETF — currency hedged (ASX: DRUG), tracked the performance of an index that included 60 of the largest global healthcare companies (ex-Australia).
BetaShares managing director, Alex Vynokur, said the index could tap into the global growth in the health care sector, which was driven by rising living standards, the ageing population and improvements in innovation and technology.
As the world population grew, agricultural firms were well placed to benefit from the growing global demand for food, Vynokur said.
Investors had the potential to generate positive returns, even though food prices remained stable. With one investment, they could now gain exposure to global agricultural power houses, Vynokur said.
Recommended for you
Betashares chief executive, Alex Vynokur, has said that the firm is focused on financial advisers “more than ever” as it grows the business, having announced a merger with managed account provider InvestSense.
L1 Capital has confirmed it intends to vote against the conversion of the Platinum Capital LIC into a listed ETF, meaning the deal “has a high probability of failing” due to L1’s substantial shareholding.
Pinnacle Investment Management has continued its focus on international expansion with the appointment of a managing director from T. Rowe Price.
Financial research firm Wealth Data, which publishes the weekly financial adviser numbers, has been sold to fintech firm Padua Solutions.
