The Praemium SMA platform is set to include five more BetaShares exchange traded funds (ETFs) which focus on domestic equities strategies, currencies and commodities.
The newly added BetaShares ETFS will include: the BetaShares FTSE RAFI Australia 200 ETF, the BetaShares US Dollar ETF, the BetaShares Gold Bullion ETF, the BetaShares Australian High Interest Cash ETF and the BetaShares Australian Top 20 Equity Yield Maximiser Fund, Financial Standard reported.
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The platform also includes ETFs from ETF Portfolio Solutions, iShares and the State Street SPDR series. The addition of the new exchange traded funds will take the number of BetaShares ETFs to 10.
Alex Vynokur, managing director of BetaShares, said that the BetaShares funds under management are now more than $850 million, which is equivalent to about 10% of the Australian ETF market.
"Many clients are receiving rates at or around the RBA rate for cash balances and advisers are now able to potentially provide clients with more competitive returns on cash through this ETF which can be bought and sold like any share on the ASX," Vynokur said.
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