Deutsche releases Australian money market ETF

The fund, which has yearly fees of 0.2%, tracks an index reflecting the interbank overnight cash rate, published by the Reserve Bank of Australia. At present, this overnight rate is yielding 4.25%. The interbank overnight rate in Australia is the interest rate banks pay or charge to borrow from, or lend to other banks on an overnight unsecured basis. The rate is calculated and published each day. Db x-trackers head of Asia Marco Montanari says: "This new ETF allows investors ease of access to the high yielding Australian short-term money market reference rate." He adds: "The ETF ca...