Smartshares reduces ETF fees

Friday, September 15th 2017, 8:55AM

Smartshares has reduced the management fee on the NZ Mid Cap Exchange Traded Fund from 0.75% to 0.60%.

The funds tracks the return on the S&P/NZX Mid Cap Index. It is Smartshares’ second largest listed New Zealand equity fund, with funds under management of more than $90 million. Smartshares product manager Dean Anderson said costs associated with running an ETF reduce proportionally as FUM grows.

This is Smartshares’ second fee reduction in 12 months, after the management fee on its largest ETF, the NZ Top 50 Fund, was reduced last September. Smartshares will continue to review the management fees across all its 23 ETFs and make adjustments as scale allows.

Tags: ETFs fees Smartshares