The Australian Securities Exchange (ASX) added a record 72 exchange traded funds (ETFs) to its boards last financial year, up from 50 listings the previous 12 months. ETFs are pooled investment funds that typically follow an index or a sector. They have risen in popularity in recent years, with $350 billion under management. More ETFs are also swapping hands with trading activity up 26 per cent compared to the previous 12 months. “There has been a surge in both the creation of ETFs as well as the uptake of ETFs,” said Betashares chief executive officer Alex Vynokur. ASX senior manager Rory Cunningham said there was widespread interest in ETFs from younger investors, high net worth investors and self-managed super funds. ETFs are easily accessibility and affordable, but analysts warn these investments come with risk. Forager Funds chief investment officer Steve Johnson said a lot of investor enthusiasm was around technology and, specifically, AI-related ETFs, which in some cases was no different to gambling, set up to allow investors to bet on the latest, hottest trend. “So it might have been cybersecurity a few years ago. It might have been software 12 months ago. And today, it’s pretty obviously AI that people are setting these funds up to let people gamble on.” He said.
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