Retail sector FUM hits $472bn
The retail funds management sector grew by 14.7 per cent to $471.7 billion in 2012, according to Plan for Life research.
The overall market - which includes wraps, platforms and master trusts - saw funds under management (FUM) rise by $60.4 billion in 2012. December alone saw an increase of $20.5 billion.
Overall masterfund business saw inflows of $119.3 billion over 2012, up 6.6 per cent on 2011. Outflows rose 5.3 per cent to $105.7 billion.
BT Financial Group tops the overall retail market with $96.1 billion in FUM and 20 .4 per cent of the market, followed by AMP ($84.6 billion), NAB/MLC ($82.7 billion) and Commonwealth/Colonial ($67.9 billion).
Breaking down the overall market into sectors, wraps claimed $167.3 billion in FUM as of 31 December 2012; platforms accounted for $232.6 billion of the market; and master trusts had FUM of $71.8 billion.
Wraps recorded the highest growth in FUM during 2012, up 18.1 per cent. Platforms grew their FUM by 13.5 per cent, and master trusts were up 11.2 per cent.
The wrap market is dominated by BT, AMP, Macquarie and NAB/MLC, which together constitute over 64 per cent of the market.
NAB/MLC holds the highest FUM in the platform market ($56.6 billion), followed by Commonwealth/Colonial ($54.7 billion) and AMP ($47.3 billion).
When it comes to master trusts, AMP leads the way with $21.5 billion in FUM, with BT in second place ($19.2 billion) and OnePath in third ($11.5 billion).
AUTHOR
Staff Writer
Recommended for you
Outflows from an Australian private markets fund manager have caused FUM at Pacific Current to decline by $1 billion in the last quarter.
Former RIAA chief executive Simon O’Connor has joined the ethical advisory panel at U Ethical Investors.
Financial services leaders are “all cashed up with nowhere to grow” when it comes to M&A activity, according to Deloitte, with 90 per cent saying they have strong balance sheets ready for an acquisition.
As fund managers are urged to diversify their product ranges, they are finding a faster way to do this is via an acquisition of existing firms but experts say it is not without potential culture clashes.
