ETF industry grows $1b in February
The Australian exchange traded fund (ETF) industry increased by $1 billion in February, the largest in a single month, according to a new BetaShares review.
This record also contributed to the record high of $16.8 billion in funds under management (FUM). The ETF report found the key contributors to the growth were overall appreciation in value of Australian and global equities.
"In terms of product sectors, exposures to global developed market equities received the strongest inflows throughout the month, with a mix of both US and global equities products receiving strong flows," managing director of BetaShares, Alex Vynokur, said.
"With a growing array of products for investors to make use of in different market conditions we believe the industry is on track to meet or exceed $21 to $23 billion FUM by the end of the year."
Four new products were introduced to the market by UBS in February and were marketed as Australia's first ‘ethical' ETFs.
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