by Fintech News Singapore
June 18, 2024
Aussie ETF Manager Betashares Bags A$300M Investment from Temasek
Australian fund manager Betashares announced a binding agreement with Singapore’s state investor Temasek for an investment of up to A$300 million.
Upon completion, Temasek will hold a minority stake in the company, joining current shareholders, including Betashares staff and TA Associates.
Betashares specialises in exchange traded funds (ETFs) and other funds traded on the Australian Securities Exchange (ASX), has seen significant growth since launching its first ETF in 2010.
The company now serves over a million Australian investors, offering cost-effective, simple, and liquid access to a broad range of ETF investment solutions on the ASX, covering nearly every asset class and investment strategy. As of April 2024, Betashares manages approximately A$38 billion in assets.
This investment from Temasek comes after a period of strong growth for Betashares. Over the past three years, Betashares has experienced notable organic growth, with reportedly the highest level of inflows among all ETF managers in Australia in 2023.
During this time, Betashares also launched Betashares Direct, a retail investment platform designed to assist self-directed investors in building long-term wealth, and announced plans to enter the Australian superannuation industry.
Betashares said that it aims to make investing more accessible and affordable as it continues to expand its product and service offerings.
Alex Vynokur
Alex Vynokur, Betashares Founder and Chief Executive Officer said,
“Looking ahead, we are focused on realising our vision by harnessing our passion for innovation and expanding our presence across more products, services, and international markets.
The investment by Temasek will help accelerate the next phase of our journey, both organically as well as through acquisitions and strategic investments. We’re excited by the opportunity in front of us.”
Featured image credit: Edited from Freepik
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