UBS shields against FX moves with latest ETF launch

Added 11th November 2016

UBS Asset Management has launched a sterling-hedged exchange-traded fund (ETF) tracking the S&P 500, listed on the London Stock Exchange.

UBS shields against FX moves with latest ETF launch

The UBS ETF (IE) S&P 500 hedged GBP UCITS ETF will physically replicate the performance of the S&P 500, with an in-built currency hedge designed to mitigate the effects of foreign exchange fluctuations between the British pound and US dollar.

The fund will invest according to the relative weightings of the underlying component stocks listed on the index and will have a total expense ratio of 0.22%.

Andrew Walsh, head of UBS ETF sales UK & Ireland, said: “This latest addition to UBS's suite of currency-hedged ETFs offers investors access to what is regarded as the pre-eminent gauge of US large-cap equities with the added benefit of embedded GBP-hedging.

“We are seeing ever increasing demand from clients for currency hedged share classes at a time when global currency volatility remains a major concern for investors. The launch of our S&P 500 hedged GBP ETF is particularly timely given recent events in the US and we would expect to see this product gain a fair amount of interest.”

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