Each of the funds PIE domiciled and the products are based on some of its most popular investment methodologies in its Australian product range.
The company says the funds will offer investors "cost-effective exposure to a range of Betashares' innovative investment strategies within a tax-efficient PIE structure."
Its first five index-tracking strategies cover global and Australian equities as well as Australian fixed income.
The move by Betashares marks the first time the fund manager has launched investment solutions outside of Australia and follows its 2021 decision to set up a local office in Auckland to help service New Zealabd investors, financial advisers, and institutional investors.
Betashares is in the process of building out a local team with the initiative currently led by Betashares executive director – Institutional and Adviser Services, Vinnie Wadhera
Wadhera has been with Betashares for more than a decade and has been involved in servicing New Zealand-based financial advisers and institutional investors since joining Betashares.
Betashares will also launch new and comprehensive support services for local financial advisers including practice development service modules. The Betashares practice development initiative has been strongly adopted by Australian-based financial advisers since their launch earlier this year and is expected to be equally popular amongst New Zealand advisers.
Betashares chief executive Alex Vynokur, said Betashares has been actively servicing New Zealand clients since its inception.
"The launch of locally domiciled funds is a natural extension for us. Betashares has been at the forefront of innovation in the Australian funds management industry since 2010, and we believe the time is right for us to take our involvement in New Zealand to the next level,” Vynokur said.
“As a business, we're highly focused on growth in the next decade of our journey. We believe the New Zealand market is currently underserved in terms of high quality and cost effective investment options and we’re excited to address this opportunity by broadening the range of innovative investment solutions available to Kiwi investors.”
Betashares’ range of PIE funds are expected to be available on selected investment platforms from June 2023.
Details of Betashares initial PIE Fund range
| « Voting, engagement get breakdown in Harbour sustainability report | Tough times ahead for NZ economy: Nikko economist » |
Special Offers
No comments yet
Sign In to add your comment
© Copyright 1997-2024 Tarawera Publishing Ltd. All Rights Reserved