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
Bell Financial Group has appointed a chief investment officer who joins the firm from Clime Investment Management.
Private markets funds with “unattractive practices” could find themselves facing enforcement activity with ASIC chair Joe Longo stating he cannot rule it out in the future.
Despite ASIC concerns about private credit funds being accessed via the advised channel, there are questions regarding how high its usage actually is among financial advisers.
Challenger has looked to the superannuation industry for its appointment of a group chief investment officer, a newly-created role.
