Betashares launches global ETF

Betashares has launched a new global exchange traded fund that tracks a tailored index form Solactive which comprises approximately 1,500 companies from more than 20 developed market countries.

The Betashares Global Shares ETF (ASX: BGBL) tracks the Solactive GBS Developed Markets ex-Australia Large and Mid-cap index and has a management expense ratio of 0.8 per cent.

Betashares says that a portfolio based around cost-effective core allocations to a range of asset classes provides a robust foundation for building long-term wealth.

The ETF manager suggested that the ETF could be used in combination with other core allocations - for example, Australian shares, fixed income, and cash - as the building blocks of a portfolio.

A hedged version of the ETF is also available. The launch of the two new ETFs pushes Betashares ETFs in the Australian market to over 80.