Australian ETF industry reaches $67.2b in July
The Australian exchange traded funds (ETF) industry closed July at $67.2 billion, an all-time end of month high, according to BetaShares.
At the same time, funds under management (FUM) grew by $1.3 billion (a 2% month-on-month increase) with industry growth over the last 12 months of 26%, representing absolute growth of $13.8 billion over this period.
Also, all of the industry growth this month came from net new money, as apposed to market movements, and totalled $1.2 billion, with the best performance this month coming from precious metals, particularly gold and silver, along with gold miners, the firm said.
“While the start of the year saw the highest level of flows into Australian equities exposures, this month was notable for having net outflows in this category (-$192m),” BetaShares said.
“Instead, we saw a return to more defensive allocations – with Australian bonds and gold receiving the highest amount of net flows at a sub-category level.
To the extent money went into equities, this was particularly in the technology sector.”
The product development activity continued to be strong throughout the month, according to BetaShares, with five new products launches and an entrance of a new issuer to the market via the Chi-X exchange with Janus Henderson launching an income-oriented diversified fixed income product.
Recommended for you
Platinum Asset Management has put its two closed-end funds under strategic review in a bid to reduce the share price discount to pre-tax NTA and maximise shareholder value.
In the latest Meet the Manager profile, Money Management speaks with Michael Skinner, founder and managing director at Blackwattle Investment Partners.
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.