VanEck lowers management costs for CETF
VanEck has announced lower management costs for its Vectors ChinaAMC CSI 300 ETF (CETF) and said they have been reduced from 0.72 per cent to 0.6 per cent per annum.
In the company’s view, the change would allow investors to benefit from the opportunities and diversification potential offered by China’s onshore equity market, at a lower cost, the firm said.
At the same time, the adviser’s fee would remain unchanged.
Additionally, interest expense incurred by the fund from today until at least 1 May 2020 would be a capped expense included in management costs and not an additional uncapped transactional and operational cost, the firm said.
VanEck’s managing director and head of Asia Pacific, Arian Neiron, said that foreign investment into China was growing as local policymakers decided to gradually openi up the onshore market.
“China’s contribution to global gross domestic product is now comparable to the US, but may be underrepresented in many investors’ portfolios,” he said.
“We believe that attractive valuations and stimulus-driven growth should provide opportunities for investors going forward.”
AUTHOR
Oksana Patron
Recommended for you
Having seen inflows of US$5.6 billion to its fixed income funds in the last quarter, Janus Henderson has closed on a deal with life insurer Guardian to secure funds to boost its product development.
One of Metrics’ four managing partners is to step back from the business next year, having worked at the firm since its inception in 2011.
VanEck’s Bitcoin ETF has amassed $290 million in assets in its first year, but the ETF provider has said financial advisers remain skeptical of the asset.
State Street has rebranded its State Street Global Advisors arm, which has US$4.6 trillion in assets under management, following a series of deals with financial services firms in recent months.
