ETFs
Temasek to invest up to $198 million in Australian ETF manager Betashares
(Reuters) – Singapore-based investment firm Temasek Holdings will invest up to A$300 million ($198.4 million) in Australian exchange-traded fund manager Betashares, the company said on Monday.
The funding is expected to boost the expansion of Betashares’ offerings in Australia and overseas, it said in a statement.
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 market capitalization of Australia’s ETF industry reached A$177.5 billion in 2023, driven by net inflows of A$15 billion, according to the latest data compiled by Betashares.
Betashares, one of the country’s largest ETF companies, manages more than A$38 billion in assets and serves more than 1 million investors in Australia, according to its website.
“Temasek’s investment will help accelerate the next phase of our journey, both organically and through acquisitions and strategic investments,” said Betashares founder and CEO Alex Vynokur.
Temasek manages assets worth S$382 billion ($282.36 billion) as of March 31, 2023, and its portfolio includes companies like Alibaba, DBS Group and Tencent, among others, according to Temasek’s website .
($1 = 1.5124 Australian dollars)
($1 = 1.3529 Singapore dollars)
(Reporting by Rajasik Mukherjee; Editing by Varun HK)