Wholesale funds drop $17.8b

investment trends markets wholesale funds

28 September 2015
| By Jassmyn |
image
image
expand image

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,

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 7 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 11 hours ago