Retail and wholesale FUM grows in first quarter

cent funds management colonial first state

8 June 2012
| By Staff |
image
image
expand image

Total retail and wholesale funds under management and administration (FUMA) grew 4.8 per cent to $813 billion in the March quarter, but is still down 4.3 per cent on the $850 billion level of 12 months ago, according to research house DEXX&R.

Total retail FUMA grew 4.5 per cent in the quarter to $499 billion. Broken down by segment, retirement incomes was up 5.3 per cent to $108 billion, employer super grew 5.8 per cent to $94.6 billion, personal super was up 4.7 per cent to $158.9 billion, and the non-super retail investment segment grew 3.1 per cent to $127 billion.

AMP retained its position as overall group market leader with $117 billion in FUMA, and also headed the employer super segment ($18.7 billion). Colonial First State stayed top in retirement incomes ($19.8 billion), MLC topped personal super ($26 billion) and BTFG led retail investments with $27 billion.

Total FUMA held in the wholesale market (pooled superannuation and wholesale trusts) increased by 5.3 per cent to $314 billion over the quarter, but over the 12 months to March 2012 fell by 7.2 per cent. Schroders (11.2 per cent) and Platinum (8.8 per cent) recorded notable increases over the quarter, while Vanguard ($35.5 billion) retained the largest market share.

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 3 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 6 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...

5 days 10 hours ago