National tops market share figures
National Australia Bank has taken top spot in market share figures published by re-search house Assirt for the three months to the end of March.
National Australia Bank has taken top spot in market share figures published by re-search house Assirt for the three months to the end of March.
The group topped the tables with net quarterly inflows of $582 million.
National Financial Management managing director Elizabeth Lomas attributes the group’s success to product strategy combined with strong sales support from the group’s financial planning network.
BT Financial Group who took second spot, recovered strongly from ownership concerns that affected the group’s inflows last year, recording net quarterly inflows of $404 million.
Colonial and Lend Lease Group increased their respective group inflows as did two new top 10 entrants, Ipac Asset Management and State Super Financial Services.
Commonwealth Financial Services recorded another decrease in net quarterly in-flows falling to number six after last year’s number four placing. Following in Commonwealth’s decline were Perpetual Investments and Mercantile Mutual.
Total assets under management in the industry have increased by 2.5 per cent to $187.3 billion, from last year’s figures of $182.7 billion.
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