NZX’s Smartshares unit eyes new ETFs targeting global equity, bonds, possibly energy

Sun, 14 Jul 2013

July 15 (BusinessDesk) – Smartshares, the NZX unit that offers exchange-traded funds and a low-cost KiwiSaver product that invests in them, is planning to launch three new ETFs targeting global equities, bonds and possibly the New Zealand energy sector. Smartshares currently has five ETFs on issue invested in baskets of large and medium-sized stocks on the NZX and ASX. They have a combined $330 million of funds under management, with the largest being the smartFONZ fund which tracks the performance of the NZX 50 Portfolio Index. The company...

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