Under the guidance of a new ETF manager, an array of sector-specific exchange traded fund (ETFs) will be launched. These ETFs will be traded on the Australian Stock Exchange.

ETFs, which are low-cost and tax-saving schemes, have been existent in Australia since 2001. Till now they have been passively managed and their full potential has not been used properly till now.

Six sector-specific ETFs will be launched in the coming few weeks which will be handled by Australian Index Investments (AII). It is going to be the new ETF manager and would be under the management control of Eurofinance Group.

Managing Director of AII, Jin Socratous said that the financial services sector was very excited about this new development and it would also be beneficial for the retail investor. Now, they would get to choose from a better range that they had earlier.

Jin further added that the growth in this segment of investment has shown that Australian investors are now looking for low-cost and value-giving investments.

Data shows that the ETFs have gradual gained popularity in Australia. The number of trades has increased by more than 125 per cent as compared to last year.