Equity markets see rise this past week
Equity markets rose last week on strong US corporate earnings, particularly across technology, communication and consumer sectors.
BetaShares Global Cybersecurity ETF (HACK) was the top performing fund last week, with ETFS Morningstar Global Technology ETF (TECH) among the top performers, which had posted a 26.9 per cent total return since the start of 2019 and is 10 per cent above its previous highs in September 2018.
Healthcare and biotechnology funds had also performed well, while China ETFs declined after economic stimulus expectations declined.
Precious metals rose last week with ETFS Physical Palladium ETF (EPTMPD) up 4.2 per cent, but the broader commodity universe fell.
Total flows into domestic ETFs were $108 million for the week, while outflows totalled $93 million. The biggest inflows were into Australian fixed-income funds.
SPDR S&P/ASX 200 Fund (STW) and SPDR S&P/ASX Australian Bond Fund (BOND) were the most traded out funds.
AUTHOR
Chris Dastoor
Recommended for you
Blackwattle Investment Partners has hired a management trio from First Sentier Investors – who departed amid the closure of four investment teams last year – to run its first equity income offering.
After passing $300 billion in funds under management, Betashares is forecasting the Australian ETF industry could reach $500 billion by the end of 2028.
Ausbil is to expand its active ETF range with two ASX-listed launches, one focusing on global small caps and one on listed infrastructure.
Up to 20 per cent of wealth and asset managers globally are set to be acquired in the next five years, according to Morgan Stanley, with focus expected to move to ‘inter-sector’ deals between industries.
