Masterfund flows climb further in 2010
Wraps, platforms and master trusts together experienced net inflows of $14.5 billion in the 2010 calendar year to $427.7 billion, after growing $72.5 billion in 2009, according to Plan For Life data.
This included a net increase of $10.2 billion in the December quarter alone, with both inflows and outflows for the year well up on 2009, according to the firm’s analysis of wrap, platform and master trust managed funds for 2010.
All major companies grew their funds under management over the year aside from IOOF and Perpetual, which both decreased slightly, the report found.
BT remained the leader in terms of total funds with $85.5 billion or 20 per cent of the market, followed by NAB/MLC with $79.1 billion and Commonwealth/Colonial with $57.4 billion.
Wraps with $150 billion slightly increased their market share from 34.6 per cent to 35 per cent. Platforms with $214.2 billion were steady at around 50 per cent of market share and master trusts had $63.6 billion or just under 15 per cent of the market, according to the report.
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
