Wholesale FUM still negative
The impact of volatile investment markets on wholesale funds is becoming less pronounced, according to the latest data released by research house Dexx&r.
The Dexx&r Wholesale Report, which covers over 900 wholesale funds, found that wholesale total funds under management fell by 2.5 per cent during July 2008 from $294.4 billion, representing the third consecutive month of decline.
The data revealed that net cash flow for the 12 months to July 2008 was negative $6.5 billion.
Dexx&r said that all of the market sectors recorded decreases in funds under management over the past month, with the multi-sector market the only one to record an increase, rising 2.3 per cent.
AUTHOR
Mike Taylor
Recommended for you
ASIC commissioner Alan Kirkland says the problems regarding advisers recommending clients to invest in the troubled Shield Master Fund are far from being an “isolated incident”.
Advice professionals are being encouraged to proactively engage with their staff on mental wellbeing, with a new report finding a surge in employee exhaustion and stress over the past year.
FAAA chair David Sharpe says its members are ready to control their own professional standards via co-regulation as the organisation shares its five-year roadmap.
As Insignia Financial formally completes the separation of MLC from NAB, Money Management reflects back on how the acquisition came to be and where Insignia sees MLC going forward.
