Russell Investments is opening easier access to higher dividends with the recent launch of the Russell High Dividend Australian Shares ETF.

The ETF, dubbed by the company as a next generation ETF, is based on a new index specifically built and skewed to firms that are expected to pay above average dividends.

"No other ETF provider has the index and portfolio construction expertise coupled with the implementation credentials in the Australian market today," said James Polisson, the newly appointed managing director of Russell's global ETF business, in a statement.

The new index is made of blue chip firms with a bias toward high dividend firms and meet other characteristics, including a history of paying dividends, dividend growth and consistent earnings. ETFs, which were first launched in the early 90s, have since expanded to cover all asset classes and geographical markets.

"Our research shows self managed superannuation funds investors are looking for high income, franking credits, capital growth and diversification. We saw an opportunity to create an ETF that provides investors with a simple, low-cost way of accessing a diversified blue-chip Australian shares portfolio that meets these investment priorities in a tax-effective structure," commented Amanda Skelly, the company's director of product development, ETFs.

Russell has over $3.9 trillion in global assets benchmarked worldwide, with its indices covering 98 per cent of investable securities. As of 31 March, its total assets under management is $176 billion.