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(Reuters) – Singapore-based funding agency Temasek Holdings will make investments as much as A$300 million ($198.4 million) in Australian exchange-traded fund supervisor Betashares, the corporate stated on Monday.
The funding is anticipated to drive the growth of Betashares’ choices in Australia and abroad, it stated in a press release.
With the funding, Temasek will maintain an undisclosed minority stake in Betashares, becoming a member of its workers members and personal fairness agency TA Associates as shareholders, it added.
The Australian ETF trade’s market capitalisation reached A$177.5 billion in 2023, boosted by internet inflows of A$15 billion, based on the most recent information compiled by Betashares.
Betashares, one of many nation’s largest ETF corporations, manages over A$38 billion in belongings and serves over one million buyers in Australia, based on its web site.
“The funding by Temasek will assist speed up the following part of our journey, each organically in addition to by way of acquisitions and strategic investments,” Betashares Founder and CEO Alex Vynokur stated.
Temasek manages belongings value S$382 billion ($282.36 billion) as of March 31, 2023, and its portfolio contains firms like Alibaba (NYSE:), DBS Group (OTC:), and Tencent, amongst others, based on Temasek’s web site.
($1 = 1.5124 Australian {dollars})
($1 = 1.3529 Singapore {dollars})
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