Stock market pushes ETFs up
The domestic Exchange Traded Fund (ETF) sector has grown rapidly in the last quarter, thanks to a spike in the Australian stock market, Morningstar has revealed.
Industry assets grew 15.2 per cent over the quarter, from $7.69 billion to $8.85 billion.
A market rise of 10 per cent was the main factor behind the growth, according to Morningstar's quarterly ETF report.
Mining stocks did well generally as the Chinese data slowdown levelled out, while specialised commodity products performed worst.
The bulk of the growth was shared between Digga Australian Mining ETF (19.08 per cent), BetaShares S&P/ASX 200 Resources Sector ETF (18.73 per cent) and SPDR S&P/ASX200 Resources ETF (17.15 per cent).
ETFS Corn (AU) CSP was down 19.41 per cent, while ETFS Natural Gas (AU) CSP, ETFS Grains (AU) CSP, and ETFS Agriculture CSP were each down more than 5 per cent.
The last quarter also saw the entry of banking, property, resources and small-cap resource equity ETFs by market vectors.
Recommended for you
Bell Financial Group has appointed a chief investment officer who joins the firm from Clime Investment Management.
Private markets funds with “unattractive practices” could find themselves facing enforcement activity with ASIC chair Joe Longo stating he cannot rule it out in the future.
Despite ASIC concerns about private credit funds being accessed via the advised channel, there are questions regarding how high its usage actually is among financial advisers.
Challenger has looked to the superannuation industry for its appointment of a group chief investment officer, a newly-created role.
