Wholesale funds drop $17.8b
Wholesale funds saw a 2.1 per cent fall to $819.6 billion in the June quarter with pension funds annual growth rate at -54.3 per cent, according to Plan For Life data.
However, over the past 12 months, wholesale funds were still up 13 per cent thanks to underlying investment markets' strong performances, Plan For Life's wholesale funds quarterly report said.
MFS Investment Management topped the funds under management (FUM) annual growth rate at 21.6 per cent, followed by Vanguard (16.6 per cent), BlackRock (16.2 per cent), and State Street Global Advisors (14.1 per cent).
Despite coming third in overall FUM at $61.2 billion, Commonwealth/Colonial stood at a single digit 2.9 per cent for annual growth, and -5.4 per cent for its quarterly growth.
Wholesale Investment funds stood strong at its 17.6 per cent annual growth rate despite a -2.5 per cent growth for the June quarter.
Gross inflows for the whole of the 2014/15 financial year totalled $214.1 billion, which was down 12.1 per cent on those recorded in the previous 12 months. The latest June quarter inflows also fell 7.9 per cent.
AMP, Challenger, and Macquarie all managed to report significant increases in their gross inflows year-on-year,
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