Funds under management for Australia’s ETP market reached $24.1 billion in September, up from $23.4 billion in August, data from the ASX has shown.
The volume of ETP transactions made during the last month was also up, with the number of transactions made rising 7529 from August to reach 68,982 in September.
According to ETF manager BetaShares, the total funds under management for September marks a new record high for the industry, reporting $580 million in inflows and increasing funds under management by 2 per cent.
“Over the course of the month, the local share market remained flat and global share markets fell. As such, all of growth can be attributed to new money rather than asset value growth, making the month’s industry growth all the more impressive,” the company said.
BetaShares commented that broad Australian equities received the highest flows for the month, adding that best performing exposures were all related to the commodities and resources sectors.
“This month saw Australian investors continue to add local exposures to their portfolios. Australian fixed income, in particular, is a category which has really broken out from a growth perspective in 2016,”said BetaShares managing director Alex Vynokur.
The small business ombudsman has charged banks with blocking financial services to the $2.6 billion adult industry, following an MP accus...
Global asset manager Insight Investment has gained a mandate from Zurich Australia’s investment business, for its Insight Diversified Infl...
The Actuaries Institute has warned that extreme weather conditions are set to continue, and investors needed to be aware of the risks. ...