Aus ETP industry could soon reach $60bn
The Australian exchange traded product (ETP) industry could reach $60 billion by year end, being on target to beat the 2017 record of $7.9 billion, according to VanEck’s ETF IQ Scorecard.
Net flows of $1,130 million were posted in August, the second highest after a record $1,556 million seen in July.
Those August inflows represented an increase from $532 million a year earlier and cumulative flows this year had passed 2018 levels of $6.4 billion.
Australian fixed income ETPs attracted the greatest net flows of any asset class with $315.5 million in August.
The top-performing products on the Australian Securities Exchange (ASX) were gold mining ETPs, reflecting the rise of gold price during the month.
Gold had jumped 9.1%, while oil fell 3.8% in AUD terms, while iron ore dropped 24.6% due to rising supply and declining demand.
AUTHOR
Chris Dastoor
Recommended for you
Tribeca Investment Partners has made a distribution hire from Australian Ethical in a newly-created role focused on the national intermediary market.
Asset managers may be urged to diversify their product ranges, but investment executives have warned any M&A deal should avoid simply filling gaps and instead consider long-term value creation.
Specialist wealth platform provider Mason Stevens has become the latest target of an acquisition as it enters a binding agreement with a leading Sydney-based private equity firm.
Fund managers are entering 2025 with the most bullish sentiment since August 2021 and record high allocations to US equities, thanks to the incoming Trump administration.
