FTSE Russell: BetaShares selects flagship UK equity index for Australia’s first FTSE 100 ETF…
The BetaShares FTSE 100 ETF has commenced trading on the Australian Securities Exchange (ASX).
It is the first ETF to be tracking the flagship FTSE 100 Index in Australia.
The index comprises the top 100 eligible UK companies by market capitalisation listed on London Stock Exchange.
The index has a net market capitalisation of almost £2 trillion, with the average constituent valued at £18.4 billion.
Evan Ong, Managing Director ETP Relationships, Asia, FTSE Russell, said:
“We are delighted that BetaShares has licensed the flagship FTSE 100 Index, the main indicator for the performance of companies listed on London Stock Exchange.
FTSE Russell is a leading provider of indexes used by ETF issuers around the world and this new fund will enable, for the first time, Australian investors to have direct access to the UK equity market.”
Alex Vynokur, Chief Executive Officer of BetaShares said:
“We’re very pleased to have launched the first UK-oriented ETF available on the ASX, which will give investors the ability to specifically allocate UK stocks into their portfolios.
As the ETF industry in Australia has matured we are seeing increasing demand for targeted exposures such as country specific ETFs like this one.
Australia has a natural connection and affinity with the UK and as such we expect the ETF to receive strong interest from Australian investors.”
The FTSE 100 Index, part of the FTSE UK Index Series, was launched in 1984 as a tradeable index of the top 100 UK listed companies by market capitalisation, and is regularly featured in daily television news reports as a popular gauge of stock market performance.