SelfWealth launches ETF
Online broker SelfWealth will launch a new ETF targeting self-managed super funds.
The SelfWealth SMSF Leaders ETF is due to launch on the ASX this financial year and listed under the ticker code SELF. It is pending regulatory ASX approval.
ETF Securities Australia and its parent company ETFS Capital are backing SELF by providing $100 million in seed funding. ETF Securities Australia will act as the responsible entity.
SelfWealth chief executive Andrew Ward said SELF will be constructed using data from the best-performing investors among 50,000 SMSF portfolios.
It will offer clients “a high-performing investment asset that complements portfolios constructed using the SelfWealth platform, and delivering a new revenue stream to the company,” he said.
Further, Ward said the SelfWealth Adviser Platform, which enables financial advisers to manage client portfolios, continues to be rolled out, and more advisers are set to join in early 2019.
Also set to launch in 2019 is the ability for clients to trade in international shares.
To read more, please click on the link below…
