Did you know...Colonial's climb?

bt funds management BT fund manager cent

30 September 1999
| By Anonymous (not verified) |

Colonial is now Australia's second largest fund manager usurping long-time rival BT Funds Management as the second fiddle to the AMP colossus.

Did you know....

Colonial is now Australia's second largest fund manager usurping long-time rival BT Funds Management as the second fiddle to the AMP colossus.

According to the latest ASSIRT market share figures, Colonial's funds under man-agement grew 25 per cent between March and June to just under $41 billion, whereas BT Funds Management slipped 3 per cent to just over $36 billion.

This is the first time that Colonial has appeared at the number two spot on the league ladder and the first time BT has fallen a rung. In fact at the end of March, Colonial was sitting at the number four spot behind AMP, BT and Lend Lease with $32.5 billion under management. Colonial's figure has no doubt been buoyed by the acquisitions of Prudential and Legal & General while BT's woes stem from the uncertainty over ownership.

The top five fund managers

Funds under Market share

management ($bil)

1. AMP 55.96 10.85

2. Colonial 40.89 7.93

3. BT 36.25 7.03

4. Lend Lease 34.58 6.71

5. Morgan Grenfell 28.15 5.46

Source: ASSIRT

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