Neon Provides Zero-Fee Trading on Two Invesco ETFs

Swiss challenger bank Neon and Invesco have partnered to offer free trading on two global equity ETFs. 

Until 31 December, investors can access the Invesco All-World UCITS ETF (FWRA) and Invesco MSCI World ESG Climate Paris Aligned UCITS ETF (PAWD) with no charges for custody, currency or trading. 

FWRA and PAWD will be issued in Swiss francs with total expense ratios (TERs) or 0.15% and 0.20%, respectively.

Invesco said the move makes it the first issuer to offer free ETF trading in Switzerland.

Julius Kirscheneder, co-founder of Neon, commented, "The cost structure of banking services and investment products in Switzerland is still too high compared to other countries.

"With this cooperation, Invesco and Neon are jointly spearheading investment savings for the Swiss and their basic provision with ETFs."

Nima Pouyan, head of institutional business and ETF distribution for Switzerland and Liechtenstein at Invesco, added, "As an international asset manager, innovation and technology are integral parts of our DNA. At the same time, we are strongly anchored in Switzerland and with this cooperation, we promote the transfer of knowledge between established companies and challengers.  

"In this way, Invesco is also strengthening the digital investment options for Swiss people."

(Source: ETF Stream)