Global X ETFs Australia has outlined an ambitious plan to introduce at least 10 new ETF strategies to local investors next year while further expanding its Australian-based team.
According to Global X Australia CEO Evan Metcalf, the firm’s goal is to become the country’s “preeminent leader” in thematic, commodity and digital asset ETFs.
Mr Metcalf suggested that the Australian ETF market is still “relatively nascent”, particularly when compared to more mature markets overseas.
“This means local investors have been reasonably underserved with limited access to a deeper pool of ETF offerings, notably within emerging megatrends such as clean energy,” he said.
“We are excited to be investing in and growing the ETF market in Australia and paving the way with our deep research capability and global scale to bring targeted access for investors, greater competition and strong, intuitive investment ideas.”
To launch its new range of ETFs, Mr Metcalf said that Global X will leverage the global scale and research capability of its 30-member investment research team worldwide.
“We will also bring to Australia established product capabilities drawn from our global network across the United States, Europe, Latin America, Japan and Hong Kong,” he added.
In the coming months, Global X intends to expand beyond its current range of thematic ETFs, which cover commodities, robotics, fintech and blockchain, clean energy and biotech.
Most recently, it introduced the Global X Uranium ETF with the goal of providing Australian investors with exposure to the growing uranium and nuclear power sector.
This fund tracks the Solactive Global Uranium & Nuclear Components Total Returns Index to provide access to companies that are involved in uranium mining and the production of nuclear components.
Global X ETFs currently represents 150 ETF strategies worldwide with $61 billion in assets under management. The firm is currently ranked sixth in Australia based on funds under management with a 4.3 per cent share of the local ETF market.
Jon Bragg is a journalist for Momentum Media's Investor Daily, nestegg and ifa. He enjoys writing about a wide variety of financial topics and issues and exploring the many implications they have on all aspects of life.