Managed fund inflows continue to grow
There has been no slowing in the growth of retail managed funds in Australia, according to the latest data released this week by actuarial firm Plan for Life.
The Plan for Life data revealed that the level of funds in retail managed funds had grown by 3.4 per cent or $16.2 billion during the September quarter to now total $494.9 billion, with the strongest annual growth rates recorded by St George, Mercer, Macquarie and AXA.
It said the highest gross inflows growth over the year had been achieved by St George (81.5 per cent), UBS (81.5 per cent), Macquarie (19.3 per cent), Adelaide Managed Funds (17.4 per cent) and AMP (16.4 per cent).
Looking at superannuation and rollovers, the Plan for Life data revealed funds growth of 14.4 per cent, with Mercer (23.6 per cent), St George (18.2 per cent), AMP (17.1 per cent), AXA (16 per cent) and Aviva (14.9 per cent) achieving the highest growth rates.
From an administrator perspective, the Plan for Life data said St George, Commonwealth/Colonial, Macquarie, AXA and BT/Westpac had achieved the highest funds under management growth rates.
It said the highest inflows growth over the year for administrators was achieved by UBS (81.5 per cent) and St George (70.7 per cent).
AUTHOR
Mike Taylor
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
