State Street Global Advisors (SSgA) has launched an international equities exchange traded fund (ETF) for Australian investors, reports Financial Standard.
The SPDR S&P World ex-Australia (Hedged) Fund will be hedged back into Australian dollars and will begin trading on 9 July.
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According to Financial Standard, both ETFs will provide local investors with exposure to approximately 350 international equities in sectors that are either unavailable or more difficult to access in the financials and resources dominated Australian market.
Amanda Skelly, SSgA’s head of SPDR ETFs in Australia, said: "The value of the Aussie dollar relative to other currencies, like the US dollar, has historically been very volatile and this can have a significant impact on the value of an investor’s international investment.
"There is certainly a loud and ongoing debate about the direction of the Australian dollar. But stripping away the noise it is clear that, for many investors who are trying to achieve diversification, it is challenging enough without the added complexity of guessing where the currency is heading," she added.
"Australian investors now have another significant building block to help them construct a diversified portfolio, which holds global brands and other international market-leading companies such as Adidas, Toyota, and Louis Vuitton," Skelly concluded.
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