NEWS BITES

BetaShares has launched a currency- hedged government bond ETF designed to provide investors with exposure to long-dated sovereign bonds (20-plus years) from the G7 nations. BetaShares chief executive Alex Vynokur says the fund “offers a robust option for gaining exposure to an important portfolio building block for investors seeking regular income”.

IMB Bank has completed its merger with Newcastle-headquartered Hunter United Employees’ Credit Union, following regulatory approval from APRA. “The merger will allow Hunter United to better meet the challenges of increased competition in the banking sector and the increasing costs of operating and responding to regulatory change,” says IMB chief executive Robert Ryan. Ares Australia Management has launched the Ares Global Credit Income Fund, which is actively managed with a target distribution of 3%-4% a year paid monthly. Through exposure to global credit markets, it aims to provide a diversified alternative to the Australian bank equity or hybrid securities commonly held by local income investors.