Healthy inflows boost retail and wholesale funds
Larger inflows into retail investment segments, retirement incomes and superannuation has seen funds under management and advice (FUM/A) held in retail and wholesale managed funds jump 12.6 per cent to $983 billion over the 12 months to March.
This is an increase of $110 billion on the March 2013 figure, according to the DEXX&R Analysis Market Share Report.
The March quarter saw total retail and wholesale FUM/A grew by 1.4 per cent, or $13.9 billion, to $983 billion at March quarter.
Among the retail and wholesale managers, Macquarie Group’s FUM/A jumped by 12.4 per cent, or $7.5 billion to $68.5 billion on a like for like basis over the 12 months to March.
This included the acquisition of Perpetual’s private wealth administration platform.
Commonwealth Bank of Australia (CBA) increased by 15.2 per cent to $129 billion, National Australia Bank (NAB) recorded a jump of 15.1 per cent to $137 billion and Westpac jumped by 10.4 per cent to $121 billion over the 12 months.
The retail investment (non-super) segment recorded good quarterly net cash inflows after five years of negative figures.
FUM/A rose by 1.4 per cent, or $2.1 billion to $154 billion in the March quarter, up from $152 billion in the December quarter.
Among the top five managers, CBA FUM/A rose by 4.8 per cent, or $1.2 billion to $27 billion, up from $26 billion during the quarter.
Westpac FUM/A rose by 0.9 per cent to $32.7 billion, up from $32.4 billion.
Recommended for you
In this episode of Relative Return Unplugged, hosts Maja Garaca Djurdjevic and Keith Ford are joined by special guest Shane Oliver, chief economist at AMP, to break down what’s happening with the Trump trade and the broader global economy, and what it means for Australia.
In this episode, hosts Maja Garaca Djurdjevic and Keith Ford take a look at what’s making news in the investment world, from President-elect Donald Trump’s cabinet nominations to Cbus fronting up to a Senate inquiry.
In this new episode of The Manager Mix, host Laura Dew speaks with Claire Smith, head of private assets sales at Schroders, to discuss semi-liquid global private equity.
In this episode of Relative Return, host Laura Dew speaks with Eric Braz, MFS portfolio manager on the global small and mid-cap fund, the MFS Global New Discovery Strategy, to discuss the power of small and mid-cap investing in today’s global markets.
