ETF market reaches $13.4bn
BetaShares reported the Australian exchange traded fund (ETF) market reached a new high of $13.4 billion in funds under management in October, up by $708 million.
The month-on-month growth came on the back of new inflows ($300 million), particularly fixed income ETFs, which recorded $76 million.
"In times of increased volatility, investors are considering incorporating exchange traded funds as part of constructing more robust, diversified portfolios," managing director Alex Vynokur said.
The company's Australian high interest cash ETF saw inflows of $44 million.
The growth also came as equity market sprung back in October.
Products that stood to gain from the sharp rebound in prices of agricultural (soft) commodities performed well.
There were 95 exchange traded products on the Australian Securities Exchange at the end of October.
AUTHOR
Malavika Santhebennur
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