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USD -Betashs USD ETF

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msparks
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Username: msparks

Post Number: 1337
Registered: 10-2004

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Thursday, June 16, 2011 - 08:37 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)





BetaShares launches Australia’s first currency ETF
BetaShares U.S. Dollar ETF
ASX code: USD

ETF tracks performance of U.S. dollar relative to the Australian dollar

Simple structure opens up foreign exchange markets to retail investors at wholesale rates

For the first time, investors are able to trade currency on the ASX like any share
SYDNEY, 1 February 2011: BetaShares Capital Limited (BetaShares) today listed Australia’s first currency ETF on the Australian Securities Exchange (ASX).
Trading under the ASX Code ‘USD’, BetaShares U.S. Dollar ETF tracks the performance of the U.S. dollar (US$) relative to the Australian dollar (A$).
The new ETF employs a simple, transparent and highly cost-effective structure, with the assets of the fund consisting of US dollars held in a bank account with JP Morgan Chase Bank.
The launch comes at a time of historic strength for the A$, which is currently trading at about 40% above its long run average value, and the ETF should appeal to investors looking for a simple way to capitalise on any potential weakening in the A$ relative to the US$. For example, if the US$ goes up 10% against the A$ (i.e. if the A$ falls in value), the price of the ETF should go up 10% too (before fees and expenses).
Drew Corbett, Head of Investment Strategy & Distribution at BetaShares, pointed out the tremendous cost effectiveness of the product relative to opening a US dollar bank account in Australia. An individual seeking to invest A$10,000 in a US dollar bank account with one of the major Australian banks can pay up to $700 over a 6 month period due to fees, costs and poor exchange rates. By contrast, that same investment in the BetaShares U.S. Dollar ETF would cost around A$70. The cost savings primarily derive from the foreign currency rates that BetaShares is able to access - rates that were previously the domain of large wholesale investors only.


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