Temasek to invest up to $268m in Australian ETF manager Betashares
Singapore’s investment company Temasek will invest up to A$300 million (S$268.2 million) in Australian exchange-traded fund (ETF) manager Betashares.
The funding is expected to drive the expansion of Betashares’ offerings in Australia and overseas, the manager said in a statement on June 17.
With the investment, Temasek will hold an undisclosed minority stake in Betashares, joining its staff members and private equity firm TA Associates as shareholders, it added.
The Australian ETF industry’s market capitalisation reached A$177.5 billion in 2023, boosted by net inflows of A$15 billion, according to the latest data compiled by Betashares.
Betashares, one of the country’s biggest ETF firms, manages more than A$38 billion in assets and serves over a million investors in Australia, according to its website.
“The investment by Temasek will help accelerate the next phase of our journey, both organically as well as through acquisitions and strategic investments,” Betashares founder and chief executive Alex Vynokur said.
Temasek manages assets worth $382 billion as at March 31, 2023, and its portfolio includes companies such as Alibaba, DBS Group and Tencent, among others, according to Temasek’s website. REUTERS