NZX plans new funds

NZX, the stock market operator, plans to launch nine new exchange traded funds to offer investors exposure to a raft of international stock markets. The Wellington-based company’s Smartshares unit has registered a prospectus to launch the new ETFs, which will invest in underlying funds offered by Vanguard, the world’s biggest mutual fund company with about US$3 trillion under management, NZX said. The new ETFs take Smartshares’ offering to 19, with 10 existing funds offering exposure to Australian and New Zealand shares.