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
ASIC has released a new regulatory guide for exchange-traded products (ETPs), including ETFs, on the back of significant growth in the market.
Assets in Macquarie Asset Management’s active ETFs have tripled to $2 billion in the last six months, helping the division deliver a net profit contribution of $1.1 billion.
With property becoming increasingly out of reach for young Australia, Vanguard has proposed a tax-incentivised scheme to help cash-heavy individuals build wealth.
Bell Financial Group has appointed a chief investment officer who joins the firm from Clime Investment Management.
