Funds under management in the Australian exchange-traded funds market hit a “fresh record high” of $30.9 billion in the month ending 31 August, according to a monthly review by BetaShares. The month of August saw a 2.2 per cent growth ($842.2 million) in funds under management (FUM) in the ETF industry, bringing the total FUM to $30.9 billion by month’s end. Net new money was the largest driver of growth, contributing 75 per cent ($644.1 million), though asset appreciation also boosted growth.
Earmarked by BetaShares as a surprising receiver of high inflows was global equities at $346.8 million, “despite the rest of the year having seen strong inflows into Australian equities”, a BetaShares spokesperson said. Commenting on the growth, BetaShares managing director Alex Vynokur said, “Pushing past the $30 billion assets under management milestone is a good landmark for the industry – it’s great to see that investors are seeing the value that ETFs deliver.” The top five performing funds for the month were gold mining ETFs and resources ETFs, according to the review.
The rest of this article can be found at investordaily.com.au.