SIAA Securities & Managed Investments Practice Questions - SIAA Securities & Managed Investments Accreditation Exam

Which of the following structural characteristics is a key feature of Exchange Traded Funds (ETFs) in Australia?

They are closed-ended funds with a fixed number of units traded on the secondary market They are open-ended structures where the unit supply adjusts dynamically through an creation/redemption process They are prohibited from paying out franked distributions to unit holders They must be actively managed and are not permitted to track passive indices

Correct Answer:

They are open-ended structures where the unit supply adjusts dynamically through an creation/redemption process

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