“Notably, particularly in light of all the volatility we have seen in sharemarkets in recent times, the Australian ETF Industry has not had a single month of net outflows over the last 10 years,” said BetaShares chief commercial officer Ilan Israelstam. Over the 12 months to July, the total market cap of the industry increased by 9.7 per cent or a total of $11.5 billion. BetaShares reported that ASX ETF trading value decreased by 19 per cent last month after rising to its third highest level ever in June.

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As Kwasi Kwarteng, the UK Secretary of State for Business, recently said: “This is no longer about tackling climate change or reaching net zero targets. Ensuring the UK’s clean energy independence is a matter of national security”. The European Commission also outlined the REPowerEU Plan, in response to the global energy market disruption caused by Russia’s invasion of Ukraine and is seeking to reduce its dependency on Russian gas and oil.

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Mr Chugh said that gold appeared to have turned a corner in recent weeks after falling from a high of US$2,000 an ounce earlier this year following Russia’s invasion of Ukraine and was now trading roughly flat year-to-date. “Geopolitical tensions remain high, with war in Ukraine destabilising eastern Europe and Nancy Pelosi’s visit to Taiwan causing alarm in China. While these events are reflected in the gold price at this stage, they serve as a reminder that gold typically finds support during times of crisis,” he said.

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Commenting on the results, ASX MD and CEO Helen Lofthouse said that the company had continued to benefit from its diversified business model. “We saw decade-high levels of listings activity, particularly in the first half, with 217 new listings in the period — the highest number since FY08. And the total amount of capital raised increased 56 per cent to $159.4 billion (excluding the BHP capital unification), a new record overall,” she said. “The markets business benefited from higher equity trading activity and demand for commodities products. However, this was partly offset by the impact of the lower interest rate environment on futures volumes. On-market equity trading increased, with a daily average value across the period of $6.7 billion, up 15 per cent.”

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The firm said that the modest increase to its net profit was largely due to higher operating expenses and strategic investments to boost its sales and marketing efforts as well as enhancements to its cyber security capabilities, technology upgrades and service uplift. Revenue within the licensees services division, formerly known as Sequoia Wealth, increased by 15.2 per cent to $64 million with EBITDA of $5.5 million and an EBITDA margin of 8.6 per cent. Despite headwinds including high inflation and falling adviser numbers, the firm said that it had increased market share across all of its divisions with consolidated revenues and operating cash flow tracking slightly ahead of its seven-year business plan.

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The bank confirmed that the meetings of both panels, which it envisions will consist of up to a dozen members, will be chaired by the Governor and senior bank staff will participate. Participation is expected to rotate over time. The agenda will include challenges facing the economy and the appropriate role of forward guidance in monetary policy. According to the bank, this should be particularly useful ahead of a review of the Reserve Bank Board’s approach at its November meeting.