ETFs focus on fixed interest


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ETFs focus on fixed interest

There are now 10 cash and fixed-interest exchange-traded funds listed on the ASX with the launch of two fixed-interest funds by State Street Global Advisors (SSgA): the SPDR S&P/ASX Australian Bond Fund (ticker: BOND) and the SPDR S&P/ASX Australian Government Bond Fund (GOVT).

The composition of the S&P/ASX Australian Government Bond Index is 53% government bonds and 47% semi-government bonds, while the S&P/ASX Australian Fixed Interest Index comprises 36% government bonds, 32% semi-government bonds, 22% supranational or sovereign bonds and 10% corporate bonds.

Fees are 0.24%pa for the Australian Bond Fund and 0.22%pa for the Australian Government Bond Fund.

Currency connection

CurrencyFair claims to be the world's first peer-to-peer online currency exchange service.

It connects buyers and sellers of different currencies to one another via the internet.

The service transfers funds between their CurrencyFair accounts, which are linked to their bank accounts.

Because it cuts out middlemen, it is able to charge a flat fee of $4 a transaction, well below the $30 charged by some banks.

Albert foots the bill

Soon you will be able to pay for your shopping, meal or other in-store purchases with a new wireless hand-held tablet computer.

Commonwealth Bank plans to roll out the devices - called Albert, after Albert Einstein - in the second quarter of 2013.

Albert, based on Google Android technology, will be powered by a new software platform, CommBank Pi, allowing new applications to be developed for the device.

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