BetaShares has today announced the listing of the first high interest cash ETF on the Australian Securities Exchange.
Trading under the ASX code “AAA”, and employing a very simple and secure structure, the BetaShares Australian High Interest Cash ETF holds Australian dollars in bank deposit accounts with one or more major banks in Australia.
The launch of the product represents the first in a range of cash and fixed income ETFs expected to be launched on the ASX in the coming weeks.
The ETF aims to generate a return that exceeds the 30 day Bank Bill Swap Rate (before fees and expenses) with the income distributions paid monthly. Based on the current interest rates from its bank deposit accounts, AAA expects to generate investment returns of approximately 5.20% p.a before fees.
For more information, refer to the fact sheet.
