ETFs see 150% turnover growth in March

Exchange traded funds (ETFs) trading volumes hit an all-time high of $18 billion in turnover in March, more than double its previous record, according to BetaShares.

ETF trades on the Australian Securities Exchange (ASX) were $18 billion during March, beating the record held in February which was $7.2 billion.

This growth came despite funds under management declining by $6.8 billion in line with falling equity markets, with the sector ending the month with funds under management of $57.2 billion. This equated to net positive inflows of $522 million.

The most popular vehicles were broad Australian equities products which received $1.1 billion in net inflows while fixed income and cash vehicles were sold down. Hedged international products also saw positive flows, reflecting the weakness in the Australian dollar.

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Source: ETFs see 150% turnover growth in March | Money Management