Spaceship expands offering to US stocks
Spaceship has expanded its investment capabilities with a US investing service, allowing Australian investors access to a selection of US-listed ETFs and stocks.
The service, currently only available to Spaceship Voyager customers, is expected to open up opportunities for Australian investors to participate in innovative, world-leading companies listed in the US stock market.
It will highlight a selection of US ETFs aligned with Spaceship’s sustainable and traditional investment themes, and launch with a minimum investment of just $10.
There will be a monthly fee of $2 for eligible Spaceship Voyager customers (or $4 for those without).
“We’re excited to introduce the Spaceship US Investing service, which aims to democratise access to the US stock market for Australian investors,” said Andrew Moore, chief executive at Spaceship.
“Our mission is to transform the way young Aussies think about and invest their money, and this new US Investing service plays an important role in expanding our investing ecosystem.
“We’ve surveyed and interviewed our customers and we’ve heard that while they love our Spaceship Voyager managed funds, they are also looking for more varied and diversified options in the form of ETFs. Some also wanted the option to invest more in companies they love, which is why we are also making individual stocks available,” Moore explained.
“One of our core values is being forward-thinking, which is what our Where the World is Going investing philosophy is founded upon. We believe that the tech-leaning nature of US markets stays true to this, giving our customers the ability to participate in the global economy and capitalise on the growth potential of leading US companies.”
The firm noted that it will conduct all transactions in Australian dollars for clarity and transparency so investors understand the value of their investments. However, a small foreign exchange fee does apply.
“It was important for us to stay true to our core values of accessibility and transparency. With our user-friendly platform, low investment threshold, and simple and affordable fee structure, we believe we’ve done just that.”
First announced in July, the US Investing service follows an additional $6 million funding for Spaceship from two of its major shareholders: Horizons Ventures, the private investment arm of Hong Kong business magnate Li Ka-shing that previously invested in firms like Spotify, Facebook and Zoom; and Grok Ventures, the private investing vehicle of one of Australia’s richest men, Mike Cannon-Brookes.
AUTHOR
Rhea Nath
Recommended for you
GQG Partners has completed the acquisition of the minority interests held by Pacific Current Group in three affiliates which will form its new Private Capital Solutions division.
The wealth management firm has unveiled a new fund in partnership with investment specialist Partners Group, describing the investment solution as an “alternative” to traditional alternatives.
Fidante affiliate NovaPort Capital has announced the closure of its small cap and microcap funds, citing expected declining flows.
T. Rowe Price believes Australian growth is successfully managing to shrug off consumer weakness, but the firm’s multi-asset team is not yet positive enough to increase its underweight position.
Add new comment