ETFs sustain momentum
Exchange Traded Funds (ETFs) are maintaining their momentum in Australia, according to the latest data released by State Street, with April proving the strongest month so far this year for ETF cash flows.
According to the State Street Global Advisers data, $330 million poured into a arrange of ETFs last month, brining the value of the local industry to $11.1 billion in assets under management.
The commentary around the data said there were no surprises in where investors sought opportunities with this occurring in mostly offshore opportunities supported by the favourable buying power of a strong Australian dollar.
It said that, within international, broad based strategies continued to be of most interest, with investors seeking diversified exposure across the US, Europe and Asia and that following positive news out of the US, US focused-ETFs had also experienced a resurgence in cash flows.
The analysis said that within domestic asset classes, Australian investors continued to favour cash, with the category attracting the strongest flows outside of international equity ETFs.
AUTHOR
Staff Writer
Recommended for you
Alphinity Investment Management and CSIRO have brought its responsible AI framework to the market, helping investors navigate AI alongside ESG principles.
The ASX board has appointed Wayne Byres as a non-executive director, who previously served as APRA chair for more than eight years.
Ahead of an upcoming fund launch focusing on mid-caps, OC Funds Management has welcomed a new portfolio manager to its investment team.
Almost 70 per cent of asset managers are planning to control costs via product rationalisation, according to a global survey by Northern Trust, as they seek to offer clients a best-in-class experience.
