SmartShares - Smart Total World (NZD Hedged) ETF
TWH.NZ
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- Smart Total World (NZD Hedged) ETF (TWH.NZ) is an exchange-traded fund that provides investors with exposure to a broad portfolio of global equities while hedging against currency fluctuations between the New Zealand Dollar (NZD) and major foreign currencies. The fund tracks the Solactive Core Global Markets NZD Hedged Index, which includes approximately 1,500 large- and mid-cap stocks from developed and emerging markets worldwide; it employs a passive investment strategy utilizing full replication or optimized sampling to mirror the index's performance. Managed by Smartshares, a division of InvestNow Limited, the ETF offers low-cost access to diversified international equities for New Zealand-based investors seeking to mitigate NZD depreciation risks without active management or sector biases. The fund's core offerings encompass total return exposure to global markets hedged to NZD on a monthly basis; quarterly distributions of dividends net of expenses; and institutional-grade liquidity on the New Zealand Exchange (NZX). It targets retail and institutional investors in New Zealand, with a focus on long-term wealth accumulation through geographic diversification across North America, Europe, Asia-Pacific, and emerging regions. Launched in 2022 and headquartered in Auckland, New Zealand, under the oversight of Smartshares (a subsidiary of InvestNow), the ETF operates primarily within the NZX market but invests globally. In recent developments, the fund underwent a ticker change from URW.NZ to TWH.NZ in late 2024 as part of Smartshares' portfolio rebranding initiative to better align naming conventions with product descriptors. Smartshares announced expanded ETF suite enhancements in early 2025, including improved hedging mechanisms and lower management fees for TWH.NZ to enhance competitiveness amid rising interest in hedged global products. No major acquisitions or funding rounds were reported for the issuer in the past two years, though InvestNow pursued strategic partnerships with international index providers to refine tracking accuracy for hedged strategies.