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FIXED INCOME FIXATION CONTINUES AS INDUSTRY EXTENDS ITS RAPID RISE
Led once again by flows into Fixed Income ETFs, the Australian ETF industry continued its rapid growth trajectory, ending October at a record $57.2B. The industry has grown by 40% over the last 12 months with absolute growth of $16.4B over this period, the highest level of growth over a 12-month period to date. Read on for more details.
Australian ETP Market Cap: July 2001 – October 2019
Source: ASX, BetaShares
Market cap
- ASX Exchange Traded Product Market Cap: $57.2B – new industry record
- Market cap increase for month: 1.8%, +$1.0B
- Market cap growth for the last 12 months: 40%, + $16.4B – greatest absolute growth over a 12-mth period
Comment: 100% of the month’s growth came from net inflows ($1.2B), with negative market movements creating a drag on industry growth.
New money
- Unit growth for month (units outstanding by number): +2.8%
- Net new money for month (units outstanding by % value): +$1.2B
Products
- 248 Exchange Traded Products trading on the ASX – two new products launched this month
Trading value
- Trading value was the second highest volume on record ($5.2B) just below the record $5.3B set in August
Performance
- Strongest performance this month was in Gold Mining exposures with BetaShares Global Gold Miners ETF – Currency Hedged (ASX: MNRS) leading the way followed by Japanese equities via the BetaShares Japan ETF – Currency Hedged (ASX: HJPN) with the latter now up ~15% over the last 3 months
Top 5 category inflows (by $) – October
| Category | Inflow Value | |
| Fixed Income | $372,094,535 | |
| International Equities | $368,056,294 | |
| Australian Equities | $307,372,123 | |
| Cash | $57,911,451 | |
| Commodities | $56,770,860 | |
Comment: In a return to the theme that has been present for most of the year, Fixed Income exposures received the highest level of inflows ($372m), followed by International Equities ($368m)
Top category outflows (by $) – October
| Category | Outflow Value | |
| Currency | ($9,250,800) |
Top sub-category inflows (by $) – October
| Sub-Category | Inflow Value | |
| Australian Bonds | $317,030,752 | |
| International Equities – Developed World | $204,053,874 | |
| Australian Equities – Broad | $160,491,882 | |
| International Equities – Sector | $81,267,496 | |
| Australian Equities – High Yield | $63,158,115 | |
Top sub-category outflows (by $) – October
| Sub-Category | Inflow Value | |
| Australian Equities – Financials Sector | ($16,544,812) | |
| Currency | ($9,250,800) | |
| International Equities – Europe | ($7,365,553) | |
| International Equities – Geared | ($1,791,320) | |
Comment: Monthly net outflows were limited with outflows out of Australian Financial Sector products most likely on profit selling, and continued outflows from European exposures which appear to remain an area of concern for investors.