eToro launches local stocks portfolio


From today, investors can access the AussieEconomy portfolio, an investment basket offering long-term exposure to high performing ASX-listed companies.

The 35 stocks that make up the portfolio are from a variety of industries including commodities, mining, biotech, pharmaceuticals, tourism, finance and software. It includes Qantas Airways, Sonic Healthcare, Computershare and the Macquarie Group.

The minimum investment is US$500 and the launch follows a recent survey by eToro which found strong retail investor interest in commodities.

etoro launches local stock portfolio aussieeconomy

According to the survey, one in four Aussies plan to invest in energy (27%) and materials (23%) in the third quarter of this year.

The commodities sector is set to export a record $419 billion of metals and energies by mid-2023, eToro says. As the world's leading commodities exporter, Australia boasts several strong commodity companies including BHP, Rio Tinto, and Origin Energy.

Commenting on the launch, eToro market analyst Josh Gilbert says the new portfolio provides an easy way for Australian retail investors to get exposure to their leading, home-grown companies.

"We know that Aussie investors have a strong home bias with four in five (79%) currently invested or planning to invest in Australian equities," he says.

"Aussie companies are leaders in energy, commodities, and agribusiness, all sectors being watched closely by global and local investors as they emerge strongly from the current macroeconomic events."

He added: "A number of Australian companies are demonstrating strong growth, for example BHP delivered record earnings and a record dividend at a time when investors are crying out for income-paying stocks and robust growth.

"The ASX offers great diversification for investors wanting to look outside of the tech-heavy US indices."

For now, ASX stocks on eToro are available as CFDs only.

This article first appeared on Financial Standard

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Chloe Walker was a journalist at Financial Standard from November 2021 to March 2024. She has a Bachelor's degree in journalism from QUT.