Business
Australian ETFs just smashed multiple records
Retail investors continued to pile onto exchange-traded funds (ETFs) last month, trying not to miss out on a soaring share market.
According to BetaShares, the ETF industry broke multiple records in November including total funds under management, largest dollar growth in funds under management, highest monthly net inwards flow and highest annual growth.
The industry reached an all-time high market capitalisation of $78.7 billion in November, which was further boosted to $92.3 billion after Magellan Global Fund (ASX: MGF) joined the sector on its conversion to an “open class” structure.
Excluding the Magellan aberration, funds under management grew $4.9 billion, which smashed the previous monthly record of $4.1 billion set in…
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