Morningstar drops coverage of UBS underperformer

Morningstar has announced that it will stop covering the UBS Australian Share Fund, saying the $700 million fund “lacks investment merit”. In an analyst note issued yesterday, Morningstar says: “We no longer believe the strategy is an acceptable choice for…

More cash ETFs come to market

Until recently, cash was a neglected segment of the exchange traded funds market but several new offerings in the past month have changed that. Investment manager BlackRock has launched two cash ETFs, both providing access to money market and short-term…

UBS launches cash ETF

One asset class that has been largely bypassed in the strong growth in the exchange traded fund market is cash. Of 157 ETFs listed on the Australian Securities Exchange, Betashares is the only manager offering a cash fund. Now UBS…