Smart launches four new ETFs and announces a new strategic alliance with iShares
Through this new alliance, Smart will gain access to iShares' global low-cost index offerings, investor education, and the scale benefits of its global platform.
10 October 2024 – Leading New Zealand investment fund manager, Smart, today announced its intention to launch four new exchange traded funds (ETFs). Three of these ETFs will come to market as part of a new strategic alliance with iShares by BlackRock, the global ETF powerhouse.
The combined expertise of Smart and iShares will pair Smart’s local investment insights with iShares’ global ETF line-up, making it easy for Kiwi investors to invest in local or international markets, with the advantage of knowing their tax rate (28%) and costs upfront.
The following new ETFs are intended to be listed on the NZX Main Board from the 24th of October:
Smart Bitcoin ETF (BTC) invests in the iShares Bitcoin Trust (IBIT) that seeks to reflect generally the performance of the price of bitcoin and trades on the NASDAQ. It enables investors to gain exposure to bitcoin through an ETF structure, without having to buy, store, or manage it directly.
Smart Gold ETF (GLD) invests in the iShares Gold Trust (IAU) that seeks to reflect generally the performance of the price of gold and trades on the NYSE Arca. It enables investors to gain exposure to physical gold through an ETF structure. Gold tends to serve as a diversifier in multi-asset portfolios and as a potential hedge against inflation, while providing investors with an alternative commodity option that often sees increased demands in time of uncertainty.
Smart US Technology (NZD Hedged) ETF (UST) invests in the iShares S&P 500 Information Technology Sector UCITS ETF, with the objective of tracking the return (before tax, fees and other expenses) of the S&P 500 Capped 35/20 Information Technology Index (100% NZD Hedged). This will provide investors with diversified exposure to the 67 leading companies within the US Information Technology sector.
Smart S&P/NZX 20 ETF (NZT) invests directly in New Zealand shares and is designed to track the return (before tax, fees and other expenses) of the S&P/NZX 20 Gross with Imputation Index, comprised of 20 of the largest companies listed on the NZX Main Board.
“Our investors are always looking for ways to expand their portfolios,” Smart Chief Executive Anna Scott says. “By partnering with iShares by BlackRock to offer these new ETFs, we can represent some of the most exciting markets and industries. Working with iShares is a natural fit because its mission dovetails closely with ours: providing world-class investment opportunities with easy access and affordable fees.”
Head of Australasia, BlackRock Jason Collins says both companies share a common goal: to empower investors to make their money work harder for them.
“Our iShares ETFs have expanded access to millions of people around the world by making investing easier and more affordable. We are proud to support Smart in its mission to foster a growing investment culture in New Zealand, as Smart continues to offer Kiwi investors more choices to meet their individual needs and build their long-term wealth. This builds on our over decade-long service to leading institutions in New Zealand, with the aim of helping them build stronger financial futures for their clients.”
ENDS
For further information, please contact:
Media and Investors
Simon Beattie
NZX Limited
021 702 694 or simon.beattie@nzx.com