BlackRock Australia has announced it has lowered the fees on the following two iShares ETFs effective immediately on July 6, 2023.
The fee reduction coincides with both funds receiving a Recommended rating from Lonsec.
Chantal Giles, Head of Wealth, BlackRock Australasia, said, “BlackRock has lowered the fee on two iShares ETFs – GLIN and GLPR – as part of its commitment to deliver greater efficiency and better value to Australian investors.
“Following our announcement earlier this year to significantly lower the cost of core index exposures, we have seen a range of market participants respond to our move that, in turn, has delivered a win-win outcome for Australian advisers and investors alike.
“Now, Australian advisers can keep more of their fee budgets to allocate to more tactical and granular ETF exposures or higher cost alpha-seeking or alternative strategies in the current higher-for-longer macro environment. At the same time, it reduces the overall input costs associated with the delivery of financial advice. Ultimately, lower-priced core ETF exposures benefit all market participants and serve as a catalyst to drive further, long-term growth in the Australian ETP market, in line with other developed markets globally.”