BetaShares launchesFuture of Food ETF

BetaShares has launched a Future of Food (IEAT) exchange traded fund on the Australian Stock Exchange which will offer investors exposure to a global portfolio of companies involved in the next generation of food and food chain related technology.

The ETF will track the Foxberry Next Generation Foods USD Net Total Return Index which includes companies that are changing the way food is consumed, produced and distributed. Companies currently included in the index include producer of plant-based meat substitutes Beyond Meat, producer of plant-based ready-to-cook frozen meals Tattooed Chef and Danone which is increasing its presence in the plant-based dairy market.

"BetaShares has a proud track record of selectively launching innovative new funds available to investors. Our leading thematic range ... is a perfect example of our continued work to give investors access to a greater range of high conviction megatrends that will play out over the decades ahead," BetaShares chief executive officer Alex Vyonkur said.

The majority of the fund's allocation is currently in the US (at 53.2 per cent) with the remainder invested across Europe, Britain and Japan. It has a management fee of 0.67 per cent and transaction costs of 0.02 per cent.