Old Mutual has filed a registration statement for five new ETFs, each of which tracks an index maintained by the FTSE group. Old Mutual, founded in 1845 in South Africa, provides long-term savings solutions, asset management services, and general insurance services in 38 countries worldwide. The new ETFs include:
- Old Mutual FTSE All-World Fund
- Old Mutual FTSE All-World ex U.S. Fund
- Old Mutual FTSE Emerging Markets Fund
- Old Mutual FTSE All-Cap Asia Pacific ex Japan Fund
- Old Mutual FTSE Developed Markets ex U.S. Fund
It appears that Old Mutual’s All World and All-World ex-U.S. funds will compete directly with Vanguard‘s VT and VEU funds, respectively. The remaining three funds propose to track indices not covered by existing ETFs, although several funds offered by Vanguard and other sponsors provide exposure to similar equity indices (such as EFA and VEA). Expense ratios were not included in the filing, but Old Mutual will presumably offer a cost structure similar to that of the Vanguard funds with which it will compete (0.25% to 0.30%).
Read Old Mutual’s filing here.