International equities drive Aussie ETFs growth
The growth of the Australian exchange-traded fund (ETF) industry has continued into the new financial year, with international equities bringing in $339 million, says BetaShares.
The ETF industry grew by 2.1 per cent in July to a new high of $39.98 billion, with inflows from international equities bringing in almost four times the amount of the next best category, fixed income, which brought in $85 million.
BetaShares’ CEO, Alex Vynokur, said the demand from investors for exposure to investment opportunities overseas had led to the dominance of international equities.
“We’re continuing to see more and more interest in funds which provide exposure to sectors not represented in Australia – namely technology and cybersecurity,” he said.
“We predict this trend will continue as more people switch on to the growth and diversification opportunities available in international markets, and accessed easily on the ASX.”
Australian resources exposures saw net outflows of $120 million, as investors took profits following a strong performance in previous months.
AUTHOR
Anastasia Santoreneos
Recommended for you
First Sentier Investors chief executive, Mark Steinberg, is set to depart the asset manager after seven years.
Metrics Credit Partners has completed the acquisition of Taurus Finance Group and BC Investment Group as it looks to launch consumer lending arm Navalo.
AMP has announced to the ASX that it is being sued by property fund manager Dexus regarding the sale of its real estate and domestic infrastructure equity business.
Having seen inflows of US$5.6 billion to its fixed income funds in the last quarter, Janus Henderson has closed on a deal with life insurer Guardian to secure funds to boost its product development.
