NZX splashes on extra exchange-traded funds

Saturday 21 August 2004

The New Zealand Exchange has made a big splash of launching new exchange-traded funds (ETFs).

By The Landlord

These funds are passive replicas of capitalisation-weighted sharemarket indices and can have tax benefits in respect of capital gains because they simply buy-and-hold component shares rather than actively trading them.

In reality, ETFs are nothing new on the local sharemarket. In its old NZSE days, the exchange kicked off first with the TeNZ fund, a New Zealand top ten index tracker it still offers.

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