Betashares notches $50b in FUM driven by rapid ETF | Australian Markets
Australian exchange traded fund (ETF) specialist, Betashares, introduced it has reached the milestone of $50 billion in funds underneath management (FUM), following a period of mass ETF growth and enlargement exercise.
The firm mentioned the milestone was the following step in its growth strategy to turn out to be a “diversified financial services business” with over a million purchasers throughout buyers and financial advisers.
Betashares mentioned all of its investment and wealth creation channels – together with ETFs, managed accounts, diversified portfolios and its Betashares Direct platform – had seen sturdy growth over the previous a number of years, propelled even additional with the firm’s foray into Australia’s superannuation sector with the acquisition of Bendigo Superannuation.
According to the firm, Betashares’ ETF belongings underneath management has grown by 56.9 per cent p.a. because it first launched in December 2010, nicely over the broader ETF industry’s growth of 31.5 per cent p.a. over the identical period.
“For nearly 15 years, we have worked hard to build a long-standing partnership with our clients. As a trusted steward of capital on behalf of our clients, we deeply appreciate the importance of trust and we are looking forward to continuing to strengthen this partnership in the years and decades ahead,” Alex Vynokur, Betashares’ founder and chief government, mentioned.
“We are very excited concerning the future of our business and the growing function we are able to play in aiding more Australians construct their long-term wealth. We are significantly passionate concerning the alternative to harness accountable innovation to construct a growing vary of investment and wealth options, for financial advisors and self directed buyers, which can be primarily based on our core values of simplicity, transparency and worth for money.
“The runway for growth for Betashares remains very long, and we’re working hard to build out our capabilities and services to help more Australians grow their wealth.”
The milestone additionally comes as Betashares will benefit from the strategic investment made final yr by Singapore’s sovereign wealth investment company, Temasek.
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