Global X launches currency-hedged FANG ETF

Global-X-ETFs/technology/ETFs/

9 July 2024
| By Laura Dew |
image
image image
expand image

​Global X has launched a currency hedged version of its FANG+ ETF investing in next-generation technology.

The ETF, which has the ticker FHNG, will provide exposure to 10 technology companies, providing innovation across the technology space, including the Magnificent Seven stocks of Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla.

The fund aims to provide investors with a return that (before fees and expenses) tracks the performance of the NYSE® FANG+™ Index (AUD Hedged), with a competitive management fee of 0.38 per cent per annum.

The original FANG+ ETF was launched back in 2020 and currently has $645 million in net assets.

Global X described the ETF as offering a “core building block for growth-orientated portfolios”.

Evan Metcalf, chief executive of Global X, said the decision had been taken to launch a currency-hedged version of the product as a way for Australian investors to minimise currency risk.

“The Australian dollar has softened considerably over the past two years, and given this fluctuation, our clients are seeking to include AUD-hedged products in their portfolios. Given FANG is entirely exposed to the USD, FHNG presents a strategic way to achieve this minimised currency risk, while still offering a high growth opportunity,” Metcalf said.

“Global X remains at the forefront of capitalising on the significant potential of emerging macrotrends driven by technological advancements. With innovations such as cloud computing and artificial intelligence having only just scratched the surface, we are committed to offering investors solutions that engage with these transformative and long-term structural trends.”

 

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?...

2 months ago

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

2 months ago

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

4 months 1 week ago

A Sydney financial adviser has been permanently banned from providing any financial services, with the regulator deriding his “lack of integrity, trustworthiness and prof...

3 weeks 1 day ago

Minister for Financial Services, Stephen Jones, has provided further information about the second tranche of the Delivering Better Financial Outcomes (DBFO) reforms....

2 weeks ago

One licensee has lost 27 advisers in the past week, now sitting at zero, according to the latest Wealth Data figures....

3 weeks 1 day ago

TOP PERFORMING FUNDS