Aus ETP industry could soon reach $60bn
The Australian exchange traded product (ETP) industry could reach $60 billion by year end, being on target to beat the 2017 record of $7.9 billion, according to VanEck’s ETF IQ Scorecard.
Net flows of $1,130 million were posted in August, the second highest after a record $1,556 million seen in July.
Those August inflows represented an increase from $532 million a year earlier and cumulative flows this year had passed 2018 levels of $6.4 billion.
Australian fixed income ETPs attracted the greatest net flows of any asset class with $315.5 million in August.
The top-performing products on the Australian Securities Exchange (ASX) were gold mining ETPs, reflecting the rise of gold price during the month.
Gold had jumped 9.1%, while oil fell 3.8% in AUD terms, while iron ore dropped 24.6% due to rising supply and declining demand.
AUTHOR
Chris Dastoor
Recommended for you
Investment solution provider Channel Capital has appointed James Archer as its latest distribution director, joining from Pinnacle Investment Management.
Bennelong Funds Management has signed a memorandum of understanding with US private credit manager Monroe Capital to distribute its products in Australia.
Global equity manager Talaria Capital has appointed a Sydney-based sales director as it grows its distribution presence across Australia.
Global private markets firm Partners Group has launched an evergreen fund to provide Australian advisers with access to its cross-sector royalties strategy.
