ETF industry hits record $32bn in FUM
The Australian exchange-traded funds (ETF) industry posted another strong month of growth, rising to a record high of $32 billion in funds under management (FUM), which represented a 3.5 per cent increase on the previous month, BetaShares said.
According to the firm’s ‘Australian ETF Review – September 2017’ the level of growth was the sixth largest month of FUM growth for the industry of all time and it was driven mainly by new money inflows, with strong asset gains in global and US equities aiding the significant growth.
The best performing products were US small caps and funds providing exposure to oil.
The report also found that outflows were limited, with only the listed property space receiving minor outflows at a category level.
BetaShares’ managing director, Alex Vynokur, said: “As the industry grows, product options are increasing and ETFs are providing cost-effective and accessible solutions with intra-day liquidity that sets these products apart”.
“The impressive growth of the ETF industry this month reflects its sustained popularity amongst investors,” he said.
AUTHOR
Oksana Patron
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