Australian ETF funds under management hit a “fresh record high” of $30.9 billion in the month ending 31 August, according to a monthly review by BetaShares.
The month of August saw a 2.2 per cent growth ($842.2 million) in funds under management (FUM) in the ETF industry, bringing the total FUM to $30.9 billion by month’s end.
Net new money was the largest driver of growth, contributing 75 per cent ($644.1 million), though asset appreciation also boosted growth.
Earmarked by BetaShares as a surprising receiver of high inflows was global equities at $346.8 million, “despite the rest of the year having seen strong inflows into Australian equities”, a BetaShares spokesperson said.
Commenting on the growth, BetaShares managing director Alex Vynokur said, “Pushing past the $30 billion assets under management milestone is a good landmark for the industry – it’s great to see that investors are seeing the value that ETFs deliver.”
The top five performing funds for the month were gold mining ETFs and resources ETFs, according to the review
SUBSCRIBE TO THE IFA DAILY BULLETIN
22 Jan 2018Hub24 announces platform enhancementsBy Staff Reporter
22 Jan 2018FPA responds to FPEC criticismBy Aleks Vickovich
19 Jan 2018AFA to host international adviser group AGMBy Staff Reporter
19 Jan 2018ASIC warns licensees over death nominationsBy Staff Reporter
18 Jan 2018ABA awaits government action on advice reformsBy Killian Plastow
18 Jan 2018SMSF sector grows 26% in 5 yearsBy Staff Reporter
- view all