Australian ETF market breaks $8b in AUM
The Australian exchange traded fund (ETF) market has reached $8.25 billion in assets under management, with market capitalisation growing by 8.1 per cent over the month of July, BetaShare’s latest ETF review has found.
Of the $618 million growth over July, new money inflows accounted for $162 million with international equities continuing to be the most popular asset class for ETF investors.
Domestic equities, on the other hand, recorded net outflows, while capital preservation concerns among investors saw cash take second place.
The month of July also saw the launch of two new funds - compared to only one new product launch over the first six months of the year.
With the launch of the first fundamental index ETF and the first currency-hedged international equities ETF, the Australian Securities Exchange now boasts 81 ETF products, according to BetaShares.
“We expect to continue to see a greater level of product launch activity in the second half of the year as the Australian market continues to mature,” BetaShares managing director Alex Vynokur said.
The Australian ETF market has recorded 10 months of record highs, with the first six months of 2013 generating greater inflows than the entire year of 2012.
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.
