The six ‘floaters’ are the first XTBs to be listed over bank bonds, providing investors with a stable investment vehicle that is not as sensitive to interest rate changes, an ACBC-issued statement said.
ACBC chief executive and co-founder Richard Murphy said: “We are excited about the potential opportunities these new XTBs can bring.
“XTB floaters are high-quality, capital-stable instruments that share many of the attributes of cash investments and the benefits of trading on the ASX.”
According to the statement, “floaters should typically deliver a higher return than ‘at-call’ cash accounts over time”.
“In addition, floaters have advantages relative to term deposits in that they can be sold at any time and can be seen as an ASX-traded alternative,” the statement said.
The bank bonds have been issued by AMP, Bank of Queensland, NAB and Suncorp-Metway.
