NZX’s Smart links up with iShares to launch new funds

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Smart, formerly SmartShares, is launching four new ETFs in a new strategic alliance with BlackRock's iShares.

Thursday, October 10th 2024, 6:00AM

BlackRock-owned iShares increases its reach into the New Zealand market offering three ETFs through Smart.

The ETFs are sector focussed investing in Bitcoin, gold and technology. A fourth new ETF tracks the NZX20.

Smart, plans to list the new ETFs on October 24.

“The combined expertise of Smart and iShares will pair Smart’s local investment insights with iShares’ global ETF line-up, making it easy for Kiwi investors to invest in local or international markets, with the advantage of knowing their tax rate (28%) and costs upfront,” Smart says.

Smart chief executive Anna Scott says the new ETFs “represent some of the most exciting markets and industries.”

“Working with iShares is a natural fit because its mission dovetails closely with ours: providing world-class investment opportunities with easy access and affordable fees.”

The new funds:

• Smart Bitcoin ETF (BTC) invests in the iShares Bitcoin Trust (IBIT) that seeks to reflect generally the performance of the price of bitcoin and trades on the NASDAQ. It enables investors to gain exposure to bitcoin through an ETF structure, without having to buy, store, or manage it directly.
• Smart Gold ETF (GLD) invests in the iShares Gold Trust (IAU) that seeks to reflect generally the performance of the price of gold and trades on the NYSE Arca. It enables investors to gain exposure to physical gold through an ETF structure. Gold tends to serve as a diversifier in multiasset portfolios and as a potential hedge against inflation, while providing investors with an alternative commodity option that often sees increased demands in time of uncertainty.
• Smart US Technology (NZD Hedged) ETF (UST) invests in the iShares S&P 500 Information Technology Sector UCITS ETF, with the objective of tracking the return (before tax, fees and other expenses) of the S&P 500 Capped 35/20 Information Technology Index (100% NZD Hedged). This will provide investors with diversified exposure to the 67 leading companies within the US Information Technology sector.
• Smart S&P/NZX 20 ETF (NZT) invests directly in New Zealand shares and is designed to track the return (before tax, fees and other expenses) of the S&P/NZX 20 Gross with Imputation Index, comprised of 20 of the largest companies listed on the NZX Main Board.

BlackRock head of Australasia, Jason Collins, this new partners “builds on our over decade-long service to leading institutions in New Zealand, with the aim of helping them build stronger financial futures for their clients.”

Currently Koura also offers a Bitcoin ETF, while Kernel has a NZX20 fund along with some tech funds investing in electric vehicles and Moonshots - which invests in 50 of the most innovative US-listed companies at the forefront of disruptive themes "changing our tomorrow", eg: Virgin Galactic Holdings, iRobot, and Microvision.

Tags: ETFs Smart Smartshares

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