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.
Recommended for you
Perpetual has seen AUM rise 6 per cent in the last quarter but the departure of a longstanding JOHCM fund manager led to outflows of $2.2 billion from his strategy.
Global fixed income fund Bentham Global Opportunities has been added to several major platforms, enabling it to be accessed more easily by financial advisers.
As ASIC chair Joe Longo pushes firms to prepare for the upcoming mandatory climate disclosure regime, what skills are necessary if firms are looking to expand their ESG teams?
First Sentier Investors has announced it will close four of its Australian investment teams amid a simplification of the business, with $14 billion expected to be returned to investors.
