Colonial and Asgard top inflows
By Mike Taylor
ColonialFirst State (CFS) and Asgard have emerged as top performers in terms of superannuation and retirement income inflows for the 12 months ending June, according to the latest figures released by research house Dexx&r.
Dexx&r says total funds under management in the retail and wholesale markets increased by 15 per cent to $558 billion for the year to June 30, with the total retail market increasing by 12.7 per cent to $327 billion.
The retail employer superannuation market segment increased by 15.6 per cent to $50.7 billion, with the top four companies MLC, BT, CFS and Asgard recording annual growth rates in excess of 25 per cent, according to the research house.
It also says the personal super market increased by 13 per cent to $109 billion with the top company being CFS, which recorded an increase of 26 per cent to $7.5 billion. It was followed by Macquarie, which recorded an increase of 25 per cent to $4 billion and Asgard, which recorded an increase of 24 per cent to $4.7 billion.
Looking at the retirement incomes market, Dexx&r says funds under management held in allocated pensions increased by 11.3 per cent to $39.7 billion, with CFS leading the way with a 25.3 per cent increase to $3 billion followed by State Super, which increased FUM by 24 per cent to $1.6 billion.
It says the retail savings and investment market increased by 13 per cent to $125 billion over the 12-month period, with the strongest inflows enjoyed by Asgard, which grew by 26 per cent to $3.7 billion, followed by MLC with 18.3 per cent growth to $10.2 billion, and CFS with 17.5 per cent growth to $10 billion.
According to Dexx&r, the wholesale market, which includes pooled superannuation and wholesale trusts, increased by 18.5 per cent to $221 billion. The strongest growth was enjoyed by Macquarie with an 88 per cent increase to $8.4 billion, followed by UBS with a 42 per cent increase to $9.5 billion, and AMP with a 39 per cent increase to $36 billion.
AUTHOR
Mike Taylor
Recommended for you
Wealth Data has examined which advice business model has seen the most growth since the start of the year including those that offer holistic advice.
Research conducted by Elixir Consulting and Lonsec has quantified the efficiency gains of using managed accounts in financial advice practices in hours per week saved.
WIth only one-quarter of advice practices actively seeking feedback from clients, the Financial Advice Association Australia has emphasised why this is a critical tool for client retention.
As the government announces a public inquiry into the collapse of Dixon Advisory, risk adviser Richard Silberman has detailed the three areas that typically lead to an AFSL's collapse.
