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iShares reaches $1 billion in AUM
BlackRock's exchange-traded fund (ETF) business in Australia, iShares, has reached $1 billion in assets under management amid predictions the market would grow another 20-30 per cent in the next couple of years.
BlackRock's global head of ETF research and implementation strategy, Deborah Fuhr, said one of the main factors driving the growth of the sector was the increasing usage of ETFs by Australian institutions.
She said other factors might include a move to fee-based remuneration models for advisers, as well as platforms' embrace of ETFs.
The head of iShares Australia, Mark Oliver, said the key issue for ETF investors in 2011 was to understand what they owned in terms of product structure and index exposure.
"Not all ETFs are created equal and as more products enter the Australian market, we believe investors should apply close scrutiny before buying an ETF to understand all costs, quality, reliability and, ultimately, the total performance of an ETF over time," Oliver said.
"Questioning whether the ETF has consistent levels of liquidity in all economic conditions will also be paramount," he added.
iShares currently has 23 ETFs listed on the Australian Securities Exchange, across both domestic and international indices.
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