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Moneybox launches suite of ETFs

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Financial app Moneybox has launched 12 new Exchange Traded Funds (ETFs), tapping into gold, technology and socially responsible investing themes.

The digital wealth manager has expanded its range of investment options for stocks and shares ISA customers with 12 new ETFs.

Customers will be able to pick from ETFs tapping into the US and UK market, as well as health, technology, gold and green/clean values.

The 12 ETFs offered are:

  • Vanguard S&P 500 ETF – US economy
  • Vanguard FTSE 100 ETF –100 largest companies listed in the UK, including AstraZeneca and Unilever.
  • iShares Global Clean Energy ETF – Companies involved in the future transition to clean energy
  • iShares Physical Gold ETC – Tracks the current market price of responsibly sourced physical gold
  • iShares Automation & Robotics ETF – Tracks developed and emerging market companies that are creating technology in automation and robotics
  • iShares Ageing Population ETF – Exposure to companies providing care and other services to the world’s ageing population
  • iShares Core MSCI Europe ETF – Tracks the performance of leading European companies like BMW and LVMH
  • iShares Digitalisation ETF – Tracks the performance of developed and emerging market companies that focus on digital services like Docusign
  • iShares MSCI Europe SRI ETF – Backs leading European companies with a focus on ESG values.
  • Legal & General Clean Water ETF – Exposure to companies that are providing new clean water technologies and network maintenance
  • Legal & General Cyber Security ETF – Spreads your money across companies in the cyber security sector like Cisco and Darktrace
  • UBS S&P 500 ESG ETF – Invests in US companies which score highly on ESG factors.

Bizarrely, fees range from -1.31% to 0.55%. Moneybox explains that as it combines fund management and transaction costs when displaying fees, where the transaction cost is negative and outweighs the fund management cost, the fees for a fund display as negative.

The ETFs are currently only available to customers with a stocks and shares ISA, but Moneybox said they will be rolled out to other investing accounts “in the near future”.

Users can click the ‘add to allocation’ tab where they can select a percentage amount to the new ETFs. Deposits can be allocated to future investments (previous investments won’t be affected) or customers can choose to make the change to all of their existing investments and future investments.

The ‘buy’ selection lets customers buy the ETFs with money held as cash before the transaction is made.

Since its launch in 2016, Moneybox has notched up more than 750,000 customers with assets under administration growing 100% year-on-year to £2.5bn now.

‘Diversification rather than speculation’

Ben Stanway, co-founder of Moneybox, said: “We’ve introduced ETFs to provide even more choice for those who want to build diversified investment portfolios aligned to their personal interests and values.”

“Moneybox has the opportunity to lead a revolution in how everyone engages with their financial lives and their opportunity to build wealth for their future. Within investing, we’re committed to building on our accessible, intuitive investment proposition centred around long-term wealth-building and broadening our product range to include ETFs and in time individual stocks – all through the lens of diversification rather than speculation. Our comprehensive product range is designed to help people succeed over the long term, offering the tools and information they need to confidently save and invest toward what matters to them in life.”

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