Colonial is now Australia’s second largest fund manager usurping long-time rival BT Funds Management as the second fiddle to the AMP colossus.
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Colonial is now Australia’s second largest fund manager usurping long-time rival BT Funds Management as the second fiddle to the AMP colossus.
According to the latest ASSIRT market share figures, Colonial’s funds under man-agement grew 25 per cent between March and June to just under $41 billion, whereas BT Funds Management slipped 3 per cent to just over $36 billion.
This is the first time that Colonial has appeared at the number two spot on the league ladder and the first time BT has fallen a rung. In fact at the end of March, Colonial was sitting at the number four spot behind AMP, BT and Lend Lease with $32.5 billion under management. Colonial’s figure has no doubt been buoyed by the acquisitions of Prudential and Legal & General while BT’s woes stem from the uncertainty over ownership.
The top five fund managers
Funds under Market share
management ($bil)
1. AMP 55.96 10.85
2. Colonial 40.89 7.93
3. BT 36.25 7.03
4. Lend Lease 34.58 6.71
5. Morgan Grenfell 28.15 5.46
Source: ASSIRT
