BetaShares has announced the launch of two new exchange-traded funds (ETFs) on the ASX, each tracking a global ex-Australia index in their respective industries.
The new ETFs include the Global Healthcare ETF and the Global Agriculture Companies ETF, both of which are hedged in to Australian dollars.
BetaShares managing director Alex Vynokur said the addition of the funds to the business' ETF range would assist investors in gaining “access to globally significant industry sectors in a convenient and cost-effective way”.
Mr Vynokur said the new funds are expected to benefit from global population growth and increasing life expectancy, noting that “spending on healthcare has increased strongly across the globe in recent decades” and the growing world population meant “existing large agricultural firms appear well placed to benefit from the growing global demand for food”.
The launch of these new funds comes just two months after the ASX revealed the Australian ETF sector had hit a record high of $23 billion in funds under management, which Mr Vynokur attributed to a May rally.
The two new ETFs form BetaShares' Global Sector Series, alongside the Global Gold miners, Global Energy Companies and Global Banks funds.
“These funds now comprise what we believe to be the most comprehensive range of global sector funds available on the ASX,” he said.