UBS launches into Australian ETF space
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Krystine Lumanta is a journalist with InvestorDaily, a Sterling publication.
UBS has listed its first exchanged-traded fund (ETF) on the Australian Securities Exchange (ASX) as part of a strategy to provide broader access to investors, the global financial services group announced yesterday.
The UBS IQ Research Preferred Australian Share Fund, managed by UBS Global Asset Management, would provide investors with exposure to a diversified portfolio of Australian-listed companies rated by UBS equity research analysts.
"The launch of our first ETF enables us to offer our Australian clients a liquid, diversified investment option with a bias towards quality stocks," UBS Global Asset Management Australasia head Ben Heap said.
"It is another example of financial product innovation from UBS and offers an interesting alternative to investors."
The UBS Research Preferred Index that the ETF aims to replicate has been specifically designed to take into account the quality of underlying securities, differentiating it from those ETF indices that are solely based on market capitalisation, he said.