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Today we released our Australian ETF Review for November 2013, which reported that the Australian ETF Industry grew for the 18th consecutive month in a row, reaching a fresh record high of $9.6B in funds under management. ETF industry assets grew 3.2% ($297 million) in November with the bulk of the growth ($210 million) attributable to new money rather than market performance. Highlights of the report follow below:
Market Cap
- ASX Exchange Traded Funds Market Cap: $9.6B – new record high
- Market cap growth for month: 3.2%,+ $296.9m
New money
- New unit growth for month (units outstanding by number): 3.4%
- Net new money (units outstanding by $ value): +$210.2m
Comment: It’s always pleasing when the monthly growth in the industry is driven primarily by net new money (i.e. rather than market cap growth). This type of ‘structural’ or ‘true’ growth is the best measure of growth in ETF industries globally.
Products
- 89 Exchange Traded Products trading on the ASX
- 4 new products commenced quotation – SPDR Dow Jones Global Real Estate Fund (DJRE), SPDR Global Dividend Fund (WDIV), SPDR Emerging Markets Fund (WEMG) & Vanguard FTSE Emerging Markets ETF (VGE)
Comment: It is unsurprising that the new fund launches this month are international equities focused, considering the level of net inflows into this sector over the course of 2013
Trading Value
- Trading value grew 8% month on month
Performance
- Natural Gas and China products the best performers for the month
Top 5 Inflows by Category
| Category | Inflow Value | |
| International Equities – Developed | $72,758,290 | |
| Aus. Equities – Large Cap | $52,368,600 | |
| Aus. High Yield | $23,010,325 | |
| Financials Sector | $13,344,440 | |
| International Equities – Emerging Markets | $13,025,635 | |
Comment: Once again developed international equities received the highest level of inflows, a recurring theme over the course of the year. However for the first time for quite some months, the Australian equities category took in a good level of inflows indicating investor bullishness in both global and local sharemarkets.
Top Outflows by Category
| Category | Outflow Value | |
| Commodities | ($3,032,976) | |
| Resources Sector | ($1,496,430) |
Comment: Very few categories experienced net outflows this month, being limited to unhedged gold exposures and the junior resources sector.
Interesting and potentially valuable information, thanks
John, glad you thought it was useful. We publish our ETF Review every month so stay tuned for more