As trading volumes surged on the Australian Securities Exchange (ASX) over the year, the value of many listed managed investments (LMI) dropped, new data shows.
There were 5.3 billion trades made over the year to May 31, trimming over a fifth of the value off many LMIs, ASX data has shown.
LMIs include Australian real estate investment trusts (A-REITS), hedge funds, infrastructure funds, pooled development funds, listed investment companies and exchange traded funds (ETF).
The market value of A-REITS, the biggest LMI group, plunged by $52 billion or 36 per cent to $94 billion in the 12 months to the end of May.
A-REITS include companies such as shopping mall owner Westfield and office owner Dexus Properties.
ETFs were the only LMI group to record a gain.
They rose nearly 50 per cent in market value to $1.7 billion in the 12 months up to May 31.
