Smartshares ASF unit reduction signals shifting investor strategy

Smartshares Australian Financials ETF (NZX:ASF) reports a unit reduction of 25,000 units on April 1, 2025, followed by a unit increase of the same amount on April 3, 2025, and another reduction of 75,000 units on April 4, 2025, with a fluctuating Net Tangible Asset (NTA). As of March 31, 2025, the NTA stood at NZD10.40064. On April 3, 2025, this changed to NZD10.48969, with 3,640,468 units on issue. This was adjusted on April 7, 2025, to NZD10.13214. These changes indicate investor repositioning within the Australian financials sector, which has a direct impact on fund composition and asset valuation. Smartshares Limited released these figures, in line with listing rule 3.13.1.