Novia Global to offer multi-currency ETFs
Online wealth management service Novia Global has announced the addition of more than 100 multi-currency ETFs from nine providers to its offering.
The ETFs are provided in conjuction with market maker and custodian Winterflood Business Services and will include funds listed on UK and European exchanges available in GBP, USD and Euro share classes.
Dave Field, head of Customer Service at Novia Global comments: “We have seen an enormous and rising demand for ETFs from both within our European jurisdictions and from further afield where ETFs are more common place than they are in the UK.”
“This demand is driven not only by our international intermediaries looking to provide their clients and investors with the precision investment, granularity and traditionally low cost alternatives that ETFs can offer; but also from DFMs who are increasingly using these instruments in their model portfolio building for accurate asset allocation” he adds.
Acoording to Novia Global, the ETFs will be available across relevant wrappers. The trading charge for the service will be taken from the cash account and is set at five basis points per order for UK Instruments, subject to a minimum of £5 per trade and eight basis points per order for International instruments, subject to a minimum of £10, $14, or €12.50 per trade depending on the jurisdiction the ETF is listed in. There will also be a settlement fee which will vary according to jurisdiction.