BlackRock has listed two iShares cash ETFs on the ASX, providing investors with portfolios of the highly rated money market and short-term fixed interest Australian dollar securities.
The iShares Core Cash ETF and the iShares Enhanced Cash ETF were both listed on the ASX yesterday after receiving Highly Recommended ratings from Lonsec.
The Core Cash ETF, known as BILL, will cost investors 7 basis points and has a current estimated yield to maturity of 1.75 per cent.
The Enhanced Cash ETF, which invests in high quality money market and fixed income instruments including floating rate securities, currently yields 2.04 per cent and is priced at 12 basis points.
BlackRock head of iShares Jon Howie said, "We are delighted to provide investors with two institutional-quality ETFs that seek to provide attractive monthly income and at the same time meet daily liquidity and transparency demands, all at the lowest cost available in the market.
"Investors have often needed to compromise on fees, liquidity and credit quality to find cash management solutions. These iShares ETFs demonstrate the ability of iShares to offer innovative solutions that meet investors’ needs."