Assets under management of exchange-traded funds in Australia surged 33.3 percent in 2012, according to a record high, according to a new report.
Cerulli Associates publishes this finding in a summary of results from a new report, The Cerulli Edge-Asian Monthly Product Trends Edition, May 2013 Issue.
The report shows that ETFs in Australia grew to A$6.4 billion (U.S. $6.7 billion), fueled in part by the launch last year of 25 new ETFs bringing the total number of ETFs in the country to 85. Equity-related ETFs enjoyed positive new net flows of $388.3 million across 51 ETFs in 2012.
Last year’s performance, the report indicates, continued in the first three months of 2013, despite only one new ETF being launched during the quarter. AUM expanded to a new record high of $7.2 billion by end-March, while net new flows attained $370.5 million. “The robust flows into a relatively stable number of ETFs suggest that more Australians are taking a liking to ETFs,” the report states.