Commonwealth increases market share
The Commonwealth only narrowly missed out from pipping National from the top of the table for total retail assets under management, the latest Assirt Market Share Report shows.
The Commonwealth, whose funds were swelled by the inclusion of Colonial, leapfrogged the former number two AMP.
The Commonwealth has funds totaling $30.4 billion, just $50 million behind National who maintains its number one spot with $30.45 billion.
This gives the Commonwealth 14.29 per cent share of the market while National (including MLC) is just ahead with 14.32 per cent.
AMP is now in third spot with 11.7 per cent of the market share, or $24.8 billion.
The overall retail market increased by $212.7 billion in the March 2001 quarter which represented an increase of 3.9 per cent from $204.8 billion in the December 2000 quarter.
An inverse picture was seen in the net quarterly retail quarterly inflows table for the March quarter. The Commonwealth has held its number one position of $828 million while National leapfrogged both AMP and BT, with close to $810 million. BT, which in December held the number two position, was a notable absence from the top 10.
However, AMP has had no challengers to its number one status in the top 10 total assets under management and top 10 discretionary master trusts. AMP manages a staggering $72.4 billion in assets or more than 11 per cent of the market. Its nearest rival is Colonial First State Investments Group who manages $59 billion.
As for the top 10 discretionary master trust list, AMP dwarfs its rivals with more than $17 billion under management, while the next biggest master trust manager is Asgard with $8.6 billion and Norwich in third position with $6.7 billion.
The fund of funds management table was the first table without the usual top performers of all the other categories. Ipac Securities maintained its number one spot from the December quarter with more than $3.6 billion, otherwise a substantial slice of the total market at 26 per cent. Next in line was AXA with $2.7 billion and then AM Management with $2.3 billion.
AUTHOR
Lachlan Gilbert
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