ETF assets surge to new record

Australian exchange traded funds (ETFs) assets have surged to a new all-time record of $257.4 billion, according to Betashares.

It said the record had been created off the back of strong inflows and positive market performance.

Betashares noted that there had been a $4.6 billion in net flows in January with the sector rising by 4.5% for the month delivering an increase in total market capitalisation of $11.1 billion.

It noted that the strong January flows had occurred despite the month historically having been quieter for ETFs.

Betashares said that over the past 12 months the Australian ETF industry has grown by 35.9% or $79.9 billion.