VanEck has boosted its local team with five hires in investments and capital markets, sales and marketing roles to keep up with the demand for its exchange traded funds (ETFs) as it progressively grows as funds under management (FUM) for the industry as a whole is predicted to double to $240 billion over the next three years.
Daniel O’Connell and Pranay Lal have both joined the VanEck investments and capital markets team. Joining from Macquarie Group, Mr Lal previously worked as a senior associate in the treasury division while Mr O’Connell held the role of senior investment operations analyst at Bennelong Funds Management most recently.
Meanwhile, Hannah McCormick and Anna Napoli have joined VanEck’s marketing team to help promote the provider’s range of ETFs to stock brokers and financial advisers along with providing investment solutions to institutional investors. Ms Napoli joins VanEck from SBS News, while Ms McCormick worked for a content agency before her appointment.
Lastly, Grace Edwards has joined VanEckfrom Oakleigh Financial where she worked in client support, and will bolster their sales team.
CEO and managing director for VanEck Asia Pacific, Arian Neiron, said that the new appointments will “enhance VanEck’s operations” as product demand continues to grow.
“Our five new people will work to significantly expand the investment capability of VanEck, as well as boost investors’ understanding and engagement of our smart beta products, which form a core part of VanEck’s ASX ETF range," Mr Neiron said.
VanEck has 30 ETFs no listed on ASX with more to come. VanEck’s FUM continued to rise over the past year, reaching $9.1 billion (up 19 per cent) as of June 30, despite global and local share markets losing ground.
Mr Neiron stated that VanEck expects to launch “Australia’s first carbon credits ETF later in the year,” while also strengthening the provider’s “support and ability to provide intelligent insights and opportunities to investors.”
“A transformation too in the business model for financial advice, with a greater focus on targeted outcomes, is driving the take up of ETFs from the adviser community,” Mr Neiron said.
“In particular, advisers and investors are also turning to VanEck smart beta ETFs to potentially beat the market as an alternative to actively managed funds, most of which have underperformed over the longer term."
Mr Neiron concluded by claiming that “investors too will be demanding their investments work harder to create and preserve wealth.”
“We expect flows into ETFs to gain momentum in the second half of 2022 as markets digest higher interest rates," Mr Neiron said.