UBS launches currency-hedged US large-cap ETF

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UBS Asset Management has launched a US large-cap ETF on the London Stock Exchange with a sterling currency hedge.

The UBS ETF (IE) S&P 500 hedged GBP UCITS ETF physically replicates the performance of the S&P 500 with a currency hedge to protect against sterling volatility.

UBS head of ETF sales for the UK and Ireland Andrew Walsh says: “We are seeing ever increasing demand from clients for currency hedged share classes at a time when global currency volatility remains a major concern for investors.

“The launch of our S&P 500 hedged GBP ETF is particularly timely given recent events in the US and we would expect to see this product gain a fair amount of interest”

The weightings of companies in the fund corresponds to their weightings on the underlying S&P index.

It’s total expense ratio is 0.22 per cent.