Fund flows back in positive territory: S&P

investment-management/fund-managers/international-equities/westpac/

13 December 2006
| By Mike Taylor |

Australia’s top 10 fund managers found themselves back in positive territory in the three months to the end of September with BT/Westpac leading the way with an increase in funds under investment of 19.2 per cent, according to the latest data released by Standard and Poor’s (S&P).

The Standard and Poor’s data revealed that Australia’s top 10 fund managers had achieved an increase in funds under investment management of 2.5 per cent or $12.7 billion in the three-month period, contrasting with the overall decline recorded in the previous quarter.

Looking at the performance of the BT/Westpac group, the S&P data said the increase had included Westpac’s acquisition of the remaining 49 per cent in Hastings Funds Management.

S&P’s head of fund data, Julie Orr said that Vanguard had achieved an impressive increase of 9.9 per cent ($2.9 billion) in funds under investment management during the quarter — the second largest percentage increase in total investment management of the top 10 managers, and attributable to a $2 billion increase in money invested in international equities.

The data suggested that flows into superannuation master funds had dropped off markedly in the September quarter.

“Superannuation master funds received a massive $7.3 billion in new funds under administration flows for the June quarter compared to only $3.7 billion for the September quarter.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months 1 week ago

A Sydney financial adviser has been permanently banned from providing any financial services, with the regulator deriding his “lack of integrity, trustworthiness and prof...

3 weeks 1 day ago

Minister for Financial Services, Stephen Jones, has provided further information about the second tranche of the Delivering Better Financial Outcomes (DBFO) reforms....

2 weeks ago

One licensee has lost 27 advisers in the past week, now sitting at zero, according to the latest Wealth Data figures....

3 weeks 1 day ago

TOP PERFORMING FUNDS