ETFs gaining traction
Exchange-traded funds (ETFs) appear to be gaining further traction in Australia, with State Street Global Advisors (SSgA) being the latest company to announce a strong pick up in funds under management (FUM) relating to the product set.
SSgA announced that total FUM for its SPDR range of ETS in Australia had broken through the $3 billion barrier, up 52 per cent from the middle of last year.
The company said much of the growth had been fuelled by interest from the retail sector, with FUM related to retail investors up by 70 per cent over the same period.
Commenting on the increase, SSgA senior managing director in Australia Rob Goodlad said the $3 billion milestone validated a trend where retail and institutional investors were using the real-time liquidity ETF strategies permitted via the Australian Securities Exchange.
AUTHOR
Mike Taylor
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