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.”
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