Listed on 1 February 2011, BetaShares U.S. Dollar ETF tracks the performance of the US dollar (US$) relative to the Australian dollar (A$) using a simple, transparent and highly cost-effective structure backed by US dollars held in a bank account with JP Morgan Chase Bank.
Drew Corbett, Head of Investment Strategy & Distribution at BetaShares said the demand for the U.S. Dollar ETF has exceeded expectations and has consistently ranked as one of the top three most traded ETFs on the Australian Securities Exchange.
“We’re continuing to see strong demand from investors looking to back their view on the US$, particularly in light of the historically high levels of the A$ versus the US$ at present” he said.
Stephen Jani, Head of FX Sales at JP Morgan Chase Bank, said investor motives vary: “There are several reasons why investors want exposure to the US$ including participating in a potential US economic recovery, hedging future cross border business obligations and diversifying portfolio exposure. Whatever the reason, investor demand for the US$ is strong as evidenced by the success of the BetaShares product and growth in funds under management.”
The strong flows in the U.S. Dollar ETF have also resulted in BetaShares reaching over $120 million in AUM since listing its initial products in December 2010.
“BetaShares was set up to address product gaps in the Australian ETF market and based on the strong demand of our ETFs to date, we believe we’re well on the way to achieving that goal,” Mr Corbett said.
“When you look around at ETF markets globally, there is always a strong local player tailoring solutions for the local investor. Reaching this milestone confirms BetaShares as that local provider and we look forward to innovating and delivering further ETF options for Australian investors,” he concluded.
Further information can be found at www.betashares.com.au and the ASX website.
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BetaShares is a specialist provider of ETFs designed for Australian investors. BetaShares objective is to expand the universe of investment possibilities open to investors by providing ETFs that empower investors to implement their investment strategies with ease.
About BetaShares ETFs
BetaShares ETFs are Australian domiciled ETFs which trade on the Australian Securities Exchange, and are bought and sold by investors like shares. BetaShares will deliver ETF products that allow investors to track the performance of a range of market indices and asset classes.
Australian-owned and managed, BetaShares is affiliated with BetaPro Management, one of the largest ETF issuers in North America.
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BetaShares is a specialist provider of ETFs dedicated to delivering products that meet specific investor needs.