Managed funds market shrinks 17.4 per cent
Total funds under management/administration (FUM/A) in the retail and wholesale managed funds market fell by 17.4 per cent ($171 billion) to $809 billion in the 12 months to September 2008, according to researcher DEXX&R.
Its latest Leading Indicator Analysis Market Share Report also found total FUM/A decreased by 5.1 per cent ($44 billion) during the September 2008 quarter, down from $853 billion as at June 2008.
Total retail FUM/A decreased by 15.8 per cent over the year to September 2008, down from $608 billion to $512 billion.
Retail FUM/A fell by 4.3 per cent during the September 2008 quarter, down from $535 billion as at June 2008.
Recommended for you
There could be changes ahead for how ASIC requires licensees to handle conflicts of interest as the corporate regulator announces it will be meeting key stakeholders next year to update guidance.
Proper recordkeeping has been described as the “mortar between the bricks” of the advice process and critical to an FSCP decision as an adviser is suspended for failures in this area.
As investors increasingly seek to embed ESG considerations in their portfolios, a specialist adviser has offered tips for financial planners who may feel overwhelmed in tackling these complex topics with clients.
Global investment consultancy bfinance is expanding into offering services for wealth managers as they seek advanced investment strategies for their clients.
