FUM/A slumps for combined retail and wholesale markets

cent BT westpac national australia bank macquarie bank AXA amp commonwealth bank

12 March 2012
| By Staff |
image
image
expand image

Funds under management/advice (FUM/A) for the combined retail and wholesale market dropped by 8 per cent in the 12 months to 31 December 2011, according to DEXX&R.

The combined market fell by $67 billion last year, dropping from $833 billion on 31 December 2010 to $766 billion by the end of 2011.

However, the drop in the last three months of 2011 was minor in comparison, with the combined retail and wholesale market falling by 0.19 per cent or $1.5 billion.

Taking the retail market alone, the annual fall was 6 per cent (from $510 billion to $480 billion), and in the December 2011 quarter the retail market was down by 0.5 per cent.

Looking at each market segment over the December 2011 quarter:

  • retirement incomes grew by 1.43 per cent
  • employer superannuation FUM/A was up 2.56 per cent
  • personal superannuation grew by 0.86 per cent
  • retail investment fell by 1.85 per cent, and
  • the wholesale market fell by 1.32 per cent.

From 31 December 2010 to 31 December 2011:

  • the retirement incomes market fell by 1.3 per cent
  • employer super was up 1.7 per cent
  • personal super fell by 6.6 per cent
  • retail investment was down 13 per cent, and
  • the total wholesale market fell by 11.5 per cent.

Following the completion of the AXA acquisition, AXA is now the biggest player in the market with $111 billion in FUM/A. This is up from the number four ranking as at 31 December 2010, when AMP's FUM/A was $76 billion.

National Australia Bank, BT/Westpac, Commonwealth Bank and Macquarie Bank round out the top five. 

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 6 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 4 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. ...

1 week 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...

6 days 12 hours ago