The range of ANZ exchange-traded funds (ETFs) launched in Australia last week will also be marketed to New Zealand investors.
Ana-Marie Lockyer, head of wealth products for ANZ Global Wealth New Zealand, said the ETFs – the first to be offered by an Australasian bank – were being prepared for local consumption.
“We are currently in the process of having the products registered in New Zealand so we expect for them to be available to New Zealand investors in due course,” Lockyer told Investment News NZ (IN NZ).
In a May 26 statement, ANZ said it would roll out six products via a new entity, ANZ ETFS Management (AUS) Limited – a joint venture with UK-based firm ETF Securities.
Joyce Phillips told the Sydney Morning Herald (SMH) that the new ETFs would also feed into the bank’s under-construction ‘virtual advice’ platform.
“We are working on developing an automated advice capability to help us deliver accessible and affordable wealth solutions,” Phillips is quoted in the SMH story.
“This capability will leverage technology from overseas markets and will involve virtual advice processes with the customer. We expect to launch this virtual adviser capability to the market in the next 18-24 months.”
The Australian ETF market hit $18 billion under management recently while globally exchange-traded products account for almost US$3 trillion in assets, according to the latest BlackRock research.
While the New Zealand-originated ETF market is less developed, the NZX is pushing hard with an expanded range of Smartshares products, now backed by S&P methodology.
The six new ETFs cover three equity indices including the “S&P ASX 100 Index, the S&P 500 Low Volatility High Dividend Index and a new S&P/ASX 300 Shareholder Yield Index,” the ANZ statement says.
As well, the bank joint venture has produced two currency ETFs – based on $US and Chinese Renminbi – and a physical gold fund.
“Further products and additional asset classes will be added over time and in other Asia Pacific markets such as Hong Kong in response to demand from investors and intermediaries,” the ANZ statement says.
The Sydney-based ANZ ETFS will be double-headed by Danny Laidler, ETF Securities Australia/NZ chief, and Adam Smith, currently ANZ Global Markets director of business execution.