Unlisted funds dominate product launches despite ETF focus

Binaya Dahal

Editorial Intern, Financial Newswire

5 February 2026

Unlisted managed funds continue to dominate Australia’s commodity pipeline despite growing focus on exchange traded funds (ETFs), with new data showing they remain the primary structure used by fund managers to launch products in the market.

According to APIR Systems, which identifies, codes, and manages reference data for unlisted financial products, 93% of all financial products registered in the first half of the financial year 2025-26 were managed investment products (MIPs) and managed accounts.

Among the 445 new products registered during the six-month period, 366 were MIPs, broadly in line with the five-year rolling average, while 46 were managed account models, also consistent with longer-term trends.

Chief Executive at APIR, Chris Donohoe said the figures showed the continued dominance of unlisted managed funds despite ETFs making headlines.

“There has been significant media focus on the launch of new exchange traded funds,” Donohoe said.

“But it is undeniable that the traditional unlisted managed fund remains the dominant vehicle for manufacturers taking products to market.”

The data also showed a shift in product design with an increase in growth-only fund registrations after several years dominated by income-focused offerings.

Wholesale products continued to feature strongly with 219 registrations during the period, almost 30% above the five-year rolling average; the six months also saw 15 new product issuers enter the market.

Product closures remained subdued with 259 products archived during the period, the lowest number in many years and 33 below the five-year rolling average.

APIR, which has identified more than 33,000 financial products over its 30-year history, said it expected product and participant registrations to remain steady through the remainder of the financial year.