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.
Recommended for you
Fund managers may be operating in a squeezed environment, but a salary guide shows they are willing to pay up for specialist talent to diversify their fund range.
Reach Alternative Investments has entered into a strategic partnership with Russell Investments to bolster its wholesale private markets offering for financial advisers and investors.
Boutique investment consulting and research house Genium Investment Partners has announced a senior appointment to drive further growth in its research ratings business.
Nuveen has appointed a global head of estate, a successor to Chris McGibbon who steps down after almost 25 years.