ANZ has become the first major Australian bank to become an ETF manufacturer, via a joint venture with ETF Securities.
ETF Securities and ANZ announced the JV, known as ANZ ETFs, at the ANZ Grow Centre in Sydney yesterday.
The new company will list six ETFs on the ASX in the next two weeks, pending regulatory approval.
ANZ ETFs will issue three equity products, a gold ETF (based on physical bullion in ANZ’s Singapore vault), a physical US dollar ETF and a physical Renminbi ETF.
The equities products include an ASX 100 ETF and two ‘smart beta’ ETFs: the ASX 300 High Yield Plus ETF and the S&P 500 High Yield Low Volatility ETF.
ANZ ETFs will be headed by ETF Securities’ head of Australia and New Zealand, Danny Laider, along with ANZ’s Adam Smith who will be the new company’s chief operating officer.
ANZ chief executive of global wealth, Joyce Phillips, said ETFs are increasingly being used as a tactical part of client portfolios.
“ANZ Wealth will continue to offer these, as part of innovative investment solutions, to our customers,” Ms Phillips said.