VanEck Vectors Australian Floating Rate ETF
VanEck has launched a new ETF on the ASX, the VanEck Vectors Australian Floating Rate ETF (ASX:FLOT).
The ETF, which is the only one of its kind in Australia, offers investors exposure to a diversified portfolio of Australian floating rate notes (FRNs) and tracks the Bloomberg AusBond Credit FRN 0+ Yr Index which includes around 200 Australian-issued FRNs from over 80 issuers.
Commenting on the launch, Arian Neiron, managing director of VanEck Australia, said: “We are delighted to offer our 14th ETF on ASX offering investors one trade access to a diversified portfolio of Australian Floating Rate Bonds. FLOT has been designed to be a potential solution for investors who are seeking a defensive source of income with a higher yield than cash investments in an easy-to-access and easily tradeable ETF."