FUM/A up by 16 per cent to September
Funds under management and advice (FUM/A) held in retail and wholesale managed funds shot up by 16.4 per cent to $953 billion in the 12 months to September.
This comes on the back of hefty investment returns and bigger inflows into superannuation, retirement incomes, and retail investment segments, Dexx&R research showed.
This is a $134 billion increase on the September 2012 figure of $819 billion.
FUM/A surged 5.1 per cent, or $46.1 billion, during the September 2013 quarter to $953 billion.
Of the top five retail and wholesale managers, Macquarie Group's FUM/A rose by 3.3 per cent or $16.1 billion to $64.5 billion over the 12 months to September 2013.
It comes as Macquarie Group acquired Perpetual's private wealth administration platform during the June quarter, adding $7.6 billion to its FUM/A.
Commonwealth Bank rose by 19 per cent, NAB by 18.4 per cent and Westpac recorded an 18.3 per cent increase over the 12 months.
Employer super FUM/A rose by 17.4 per cent or $17.4 billion over the year to September.
National Australia Bank (NAB) employer super FUM/A outclassed its peers, with an increase of 32.6 per cent over the year.
NAB's FUM/A rose to $26.4 billion at September 2013, up from $20 billion at September 2012.
This substantial increase is due to Plum Financial Services' recent success in winning mammoth super scheme tenders for NAB, including BHP Billiton's $2.8 billion super fund.
Westpac recorded a 16.6 per cent boost in FUM/A to $15.5 billion, Mercer jumped by 12.9 per cent to $13.2 billion and AMP rose by 12.2 per cent to $24.7 billion.
Recommended for you
The alternative investment manager has signalled its intentions to repackage an existing fund into a second private equity vehicle, targeting both listed and unlisted opportunities.
The acquisition of Mason Stevens by Adamantem Capital has reached completion, as the wealth platform looks to increase investment into its services for Australian wealth practices.
Platinum Asset Management and VanEck have both announced name changes to multiple of their ETFs to clarify their complexity.
Active ETFs are gaining traction in Asia-Pacific as wealth managers seek to blend the low-cost fees of passive with active management.
