The Australian ETF industry has reached a record high at the end of the first half of 2018, according to new figures from BetaShares.
According to the company’s 2018 Australian ETF Half Year Review, funds under management in the Australian ETF sector reached a record $39.2 billion by the end of the first half of the year.
This figure was reached off the back of a $3.2 billion increase in FUM in the sector during the six month period, much of which ($2.7 billion) came from “net new money flowing into the industry” rather than asset appreciation.
“It’s been another strong six months for the Australian ETF industry,” said BetaShares chief executive Alex Vynokur.
“This strong half reflects increased demand from investors and advisers who are seeing the benefits of owning exchange-traded products. If this trajectory continues, we expect to see yet another record year of asset growth.”
The majority of new inflows (77 per cent) went to passive products, while a further 16 per cent was put towards active ETFs, which the report says is a sign that “this relatively new category is starting to take hold in our market”.
Resolution Life Australasia severs ties with AMP.
AMP and TAA have sought an increase in the cap on life insurance commissions for financial advisers.
The government has announced a post-implementation review of the removal of the stamping fee exemption.
Get the latest news! Subscribe to the ifa bulletin
Get notifications in real time and stay up to date with content that matters to you.