Global X has seen assets under management in its Australian business reach $7 billion, thanks to the drive for technology-focused exchange traded funds (ETFs).
It noted technology and thematic ETFs have seen strong inflows from Australian investors as they seek to position their portfolio with growth-orientated assets.
This includes a Battery Tech and Lithium ETF, Fintech and Blockchain ETF, Semiconductor ETF, and Global Robotics and Automation ETF. The Battery Tech and Lithium ETF is the firm’s largest thematic ETF at $600 million, followed by the FANG+ ETF at $553 million, and Morningstar Global Technology ETF at $353 million.
Chief executive, Evan Metcalf, said: “Subsequently, our AUM has surpassed $7 billion, and we will continue to execute on intelligent strategies to facilitate further growth.”
The firm’s product line-up globally includes over 100 ETF strategies, and it has US$46 billion ($70 billion) in assets under management.
At the end of last year, Metcalf said the firm is looking to raise its assets under management in Australia to $10 billion by the end of 2025 via expanding its product range with differentiated offerings, expanding the sales team and reaching more investors.
Product launches would be determined by client demand and ensuring the products are suitable for the Australian market.
In line with the demand for technology strategies, it has expanded its Australian research team with the appointment of Billy Leung as investment strategist. Leung has a decade of specialised experience in the Hong Kong/China markets, with a focus on the technology sector.
“We are thrilled to have Billy Leung join Global X as an investment strategist. Technology will be his area of expertise, elevating our ability to provide insights to our local clients and offer specialised ETFs. He also brings a refined understanding of the industry from both buy-side and sell-side roles,” Metcalf said.
“Billy’s appointment is timely given the technology sector has been responsible for outsized returns and has been a rich vein of product development. Global X is dedicated to our innovative thematic ETFs and Leung’s appointment is a testament to that.”
