ETFs see further growth
The exchange-traded fund (ETF) industry has seen further growth in February, with the industry reaching a record high of $7.1 billion in assets under management.
According to BetaShares' Australian ETF Review for February, the month saw new inflows of approximately $137 million – a result attributed to the continued bullish sentiment coming from investors.
"Optimism among Australian investors continued to drive healthy inflows into the industry and assets under management rose strongly again," said BetaShares head of investment strategy Drew Corbett.
"It was also the second month in a row where all top 10 products by inflows were equities-based, confirming continued bullish investor sentiment."
Notwithstanding heightened interest in broad-based equity products, there is a continued yield focus among investors, with this category of products attracting approximately $31 million of new money this month.
"We're seeing investors continuing to stick with high yielding equities products rather than other available ways to access yield such as fixed income ETFs," Corbett added.
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