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Aussie ETFs reach all time high

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The Australian ETF industry grew by nearly AUD1.5 billion in October (+4.7 per cent on the previous month), leaving funds under management across the industry at a new all-time high of AUD33.5 billion, according to the BetaShares Australian ETF Review – October 2017.

Growth was aided by strong asset value appreciation across numerous asset classes including both global and domestic equities, the firm writes. This appreciation accounted for AUD709 million (or 48 per cent) of the monthly increase. New money was also notable, amounting to AUD789 million in additional funds to the Australian ETF market (or 52 per cent of the monthly growth). These two drivers of growth pushed the absolute monthly FUM increase to a new record.

Australian equities received the largest flows of new money in October, resuming the trend seen throughout the year, except for August and September, when global equities temporarily took the top spot for largest inflows from Australian investors.

Outflows were limited during October, with only small redemptions in oil exposures as investors took profits after strong gains from previous months. There were also minor redemptions in exposures to USD, following a devaluation of the US currency against the AUD.

BetaShares Managing Director, Alex Vynokur, says: “Australian equities took the lead this month, but there were also strong gains in fixed income, cash and global equities, which shows that investors are using ETFs across a number of asset classes to diversify their portfolios.”

The best performing ETFs in October were focused on Asian Equities, particularly in South Korea and Taiwan, where technology stocks led the gains, BetaShares says. The total number of exchange traded products available on the ASX remained unchanged at 216.

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