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MULTIPLE RECORDS TUMBLE AS THE SECOND HALF OF THE YEAR STARTS WITH A BANG!
The Australian ETF industry experienced rapid, and record-breaking growth this month, benefiting from both high net flows and positive market movements. July 2019 was truly a month where records tumbled, with all-time records broken for: total funds under management, monthly FuM growth, annual FuM growth, monthly net flows and value of monthly trading. The industry ended July at a record $53.3B with a rapid monthly market cap increase of 4.7% (+$2.4B). Read on for more details.
Australian ETP Market Cap: July 2001 – July 2019
Source: ASX, BetaShares
Market cap
- ASX Exchange Traded Product Market Cap: $53.3B – New industry record
- Market cap increase for month: 4.7%, +$2.40B – New industry record for monthly FuM growth
- Market cap growth for last 12 months: 33%, + $13.3B – New industry record 12 month FuM growth
New money
- Unit growth for month (units outstanding by number): +2.9%
- Net new money for month (units outstanding by % value): +$1.48B – New industry record monthly net
Comments: Approximately 60% of the month’s growth came from net inflows, which reached an all-time record of $1.48B (the previous record was set in November of 2017 and amounted to $1.3B)
Products
- 245 Exchange Traded Products trading on the ASX – 2 new products launched, BetaShares Australian Government Bond ETF (ASX: AGVT) and BetaShares FTSE 100 ETF (ASX: F100). 1 single bond product reached maturity.
Trading value
- Trading value increased significantly (20%) to reach an all-time high in monthly trading ($4.7B).
Performance
- Unhedged physical metals products led the way this month for performance, with Silver and Platinum the best performing exposures. Given the strong rise in the Australian sharemarket, strong performance was also recorded by BetaShares Geared Australian Equity Fund (hedge fund) (ASX: GEAR).
Comments: With escalating of tensions in the China-USA Trade wars, precious metal exposures performed best this month.
Top 5 category inflows (by $) – YTD
| Category | Inflow Value | |
| International Equities | $432,472,084 | |
| Fixed Income | $404,978,843 | |
| Australian Equities | $248,386,872 | |
| Cash | $210,587,393 | |
| Commodities | $74,379,130 | |
Comment: In terms of category demand, it was International Shares and Australian Bonds that led the way, both receiving over $400m of net inflows. At a product level, BetaShares Australian High Interest Cash ETF (ASX: AAA) and BetaShares Australia 200 ETF (ASX: A200) were the #1 and #2 products for net inflows this month – with ~$169m and ~$155m of new money added respectively
Top category outflows (by $) – YTD
| Category | Outflow Value | |
| Currency | ($16,827,534) |
Comment: Net outflows at a category and sub-category level were largely limited to selling in U.S. dollar ETFs, as the Australian dollar depreciated in value.
Top sub-category inflows (by $) – YTD
| Sub-Category | Inflow Value | |
| Australian Bonds | $362,047,460 | |
| International Equities – Developed World | $219,469,391 | |
| Cash | $210,587,393 | |
| Australian Equities – Broad | $ 171,067,977 | |
| International Equities – Sector | $103,406,140 | |
Top sub-category outflows (by $) – YTD
| Sub-Category | Outflow Value | |
| Currency | ($16,827,534) | |
| Australian Equities – Geared | ($4,557,773) | |
| Australian Equities – Financials Sector | ($4,496,141) | |
| International Equities – Geared | ($3,696,460) | |
| Australian Equities – Large Cap | ($2,817,048) | |