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.
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