Aussie ETF industry breaks another record
Exchange-traded funds (ETFs) have continued on their growth trajectory as the Australian ETF industry broke new records last month, with a monthly funds under management (FUM) increase of $2.3 billion, BetaShares’ February Australian ETF Review has said.
This figure eclipsed the previous record set in November 2017, and the industry now stands at $44.8 billion.
“Similar to January, market rebounds meant that the substantial industry growth primarily came from price increases, accounting for 80 per cent of the total, with the other 20 per cent due to net inflows amounting to $524 million,” the report said.
According to BetaShares, investor appetite for global exposures continued to grow, with international equities receiving the largest amount of net inflows at approximately $211 million. Australian bonds and cash followed with inflows of $151 million and $40 million respectively.
Chinese equities performed most strongly in February due to the substantial price recovery experienced in this market.
Recommended for you
A hiring spree is expected in private markets with 90 per cent of firms expecting to maintain or increase their headcount over the next 12 months, according to Preqin.
Abrdn Investments has hired a new global chief executive as Rene Buehlmann steps down after less than two years, it also announced a new senior leadership structure.
Having received bids from Bell Financial Group and AxiCorp, trading platform Selfwealth has confirmed it has entered into a scheme implementation deed after both parties were invited to make a higher bid.
Clime Investment Management has faced shareholder backlash around “unsatisfactory” financial results and is enacting cost reductions to return the business to profitability by Q1 2025.