BetaShares adds major currencies to ETF range
Monday, 11 July 2011 12:40pm

BetaShares is looking to capitalise on the continued strength of the Australian dollar, adding British pounds and Euro currency ETFs to its portfolio of ASX listed products.

The British pounds and Euros, held on deposit by JPMorgan Chase Bank, will be available to retail investors at wholesale rates, according to BetaShares, which also has a US dollar ETF.

"Our analysis shows investors who purchased British Pounds or Euros via a major bank were paying well over 10 times the cost of our ETFs for a $10,000 exposure over six months," said Drew Corbett, head of investment strategy and distribution, BetaShares.

With the Australian dollar continuing to trade strongly against the British Pound and the Euro, the ETFs are primed to capitalise on any reversion.

"Although complexity and cost are barriers to currency exposure for retail investors, we are providing more choices for Australian investors in a simple and cost efficient way," said Corbett.

"Through our range of currency ETFs, Australians can take long or short term views on three of the largest currencies in the world."

The new ETFs will trade under the ASX codes 'POU' and 'EEU'.

Last week BetaShares launched two leveraged trading tools, MINIs, over its resources and financial sector ETFs, giving investors the chance to access short and long term positions.

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