Retail and wholesale FUM grows in first quarter
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.
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