Tough year for platforms

colonial first state bt financial group platforms market volatility macquarie

4 November 2011
| By Milana Pokrajac |
image
image
expand image

It has been a tough year for platform providers, with three out of six largest platforms reporting negative net flows for the year ending June 2011, according to data published by Plan for Life.

These results have been consistent with previous economic forecasts, as markets remained volatile throughout 2011.

AMP's Flexible Lifetime reported -$1.6 billion in net flows, followed by MLC's MasterKey (-$813.8 million) and Colonial First State's FirstChoice (-$234.6 million).

However, BT Wrap and SuperWrap had the biggest outflows in the year to June 2011 ($17.1 billion), but still ended the year at $4.6 billion, in positive territory.

Colonial's FirstChoice Wholesale and Macquarie's Wrap solutions also reported positive results.

BT Financial Group was one of the few institutionally owned wealth management arms posting an impressive performance in 2011, with MLC and NAB Wealth, ANZ Wealth and Colonial First State struggling over the past year.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

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

3 weeks 5 days ago

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

1 month ago

Interesting. Would be good to know the details of the StrategyOne deal....

1 month ago

Insignia Financial has confirmed it is considering a preliminary non-binding proposal received from a US private equity giant to acquire the firm. ...

1 week 4 days ago

Six of the seven listed financial advice licensees have reported positive share price growth in 2024, with AMP and Insignia successfully reversing earlier losses. ...

6 days 20 hours ago

Specialist wealth platform provider Mason Stevens has become the latest target of an acquisition as it enters a binding agreement with a leading Sydney-based private equi...

6 days ago