ETF gets big boost
An injection of capital from an institutional investor has boosted NZX’s Smartshares emerging markets ETF.
Friday, February 9th 2018, 11:18AM
The fund has grown by about 50% after the investor subscribed for $28.7 million in new units. There were 21.9m units traded for $1.31 yesterday.
It’s the biggest subscription for the fund since it launched in 2015.
Before yesterday, it had 44.3m units on issue.
It invests in the Vanguard Emerging Markets exchange-traded fund.
A spokeswoman for the NZX said she could not provide any detail about the transaction. “We understand this is an order from an existing institutional investor.”
The fund has had returns of 30.5% over the past year, 4.41% over three months and 4.48% over the past month.
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