ETF manager Betashares will launch two new global share funds in the coming weeks that tracks an index of 1500 global companies and suitable as a core allocation to portfolios.

The funds, the Global Shares ETF (BGBL) and the Global Shares Currency Hedged ETF (HGBL), will have management fees of 0.08 per cent p.a. and 0.11 per cent p.a., respectively.

It tracks the Solactive GBS Developed Markets ex Australia Large & Mid Cap AUD Index which provides exposure to approximately 1500 global companies across more than 20 developed market countries excluding Australia.

The funds will form part of Betashares’ range of ETFs that are designed to be suitable as core allocations in investment portfolios.

The new global funds will commence trading on the ASX in the coming weeks.