(1 February 2011 – Australia) The ASX Group (ASX) has announced the launch of the first exchange traded fund (ETF) over currency to be traded on the Australian Securities Exchange.The currency ETF will track the US dollar against the Australian dollar, enabling Australian institutional, intermediary and individual investors to simply and cost-effectively obtain immediate exposure to the US dollar.
Richard Murphy, ASX General Manager Equity Markets, said the launch of the currency ETF continues the rapid growth of ETFs and Exchange Traded Commodities (ETCs) in the Australian market.
“The quoting of the currency ETF, issued by BetaShares, expands the suite of ETFs and ETCs available on ASX to 46.
Australian ETFs cover domestic and international equities, property, commodities – and now currency – and provide Australian investors with greater opportunity to internationalise their portfolios,” he said.
“Exchange traded funds have been one of the most successful growth products for both retail and institutional investors around the world over the previous decade. In Australia, ASX is committed to developing the ETF sector to provide investors with access to a broad range of investable asset classes. Last calendar year the market capitalisation of the ETF sector quoted on ASX grew by 45% to $5.1 billion.”