Australia's exchange-traded fund (ETF) industry had a landmark year in 2020, growing 30.4% year-on-year to A$79.3bn (US$60.8 billion) in AuM, according to Morningstar figures released this morning. Net new flows reached A$18.7bn, the highest in five years. ETF providers in Australia saw a higher-than-ever proportion of new inflows that came from direct individual investors, often young and entering the share market for the first time. Anecdotally, providers attribute growth to easy access and liquidity of ETFs. According to Betashares, 83% of inflows in 2020 went to index products...
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