Retiree products to boom
Retirement income products will dominate inflows in 2010, doubling the money pouring into superannuation and unit trusts.
Rice Kachor Research executive director Mark Kachor told the recent Rice Kachor distribution seminar there would be explosive growth for retirement products over the next 10 years and huge growth in the business of providing advice to retirees. Kachor says net inflows into retirement products would increase eight-fold from their current $2.3 billion to $18 billion in 2010.
Growth in superannuation and unit trusts would be quite modest in comparison, he says. Flows into personal and employee super is predicted to grow to $10.9 billion from its current $8.3 billion, while unit trusts are expected to grow from $5.2 billion currently to $8.6 billion.
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