BetaShares launches S&P 500 Yield Maximiser Fund
BetaShares has today announced the launch of a new ASX-traded fund, aimed at boosting the income potential from a portfolio of US shares.
BetaShares S&P 500 Yield Maximiser Fund (managed fund) trades under the ASX Code “UMAX”.
The Fund’s investment approach is to hold an investment portfolio providing exposure to the S&P 500 Index and, at the same time, to sell some of the upside share price potential of the Index in return for additional income.
The launch of the Fund comes after the success of BetaShares’ yield-focused Australian equities product, the BetaShares Australian Top 20 Equity Yield Maximiser Fund (managed fund) (YMAX), which employs a similar strategy and has attracted more inflows than any other equities exchange traded product on ASX in 2014.
UMAX provides investors with the potential to enhance portfolio yields, as well as offering the additional diversification benefits of exposure to an overseas market and currency. Units in the Fund can be bought and sold on the ASX like any share.
The Fund will be the first Australian-domiciled ETP on the ASX to provide US-specific equity exposure, offering significant administrative benefits for Australian investors, including no need for W-8 BEN forms and no US estate tax implications.