Healthy inflows boost retail and wholesale funds
Larger inflows into retail investment segments, retirement incomes and superannuation has seen funds under management and advice (FUM/A) held in retail and wholesale managed funds jump 12.6 per cent to $983 billion over the 12 months to March.
This is an increase of $110 billion on the March 2013 figure, according to the DEXX&R Analysis Market Share Report.
The March quarter saw total retail and wholesale FUM/A grew by 1.4 per cent, or $13.9 billion, to $983 billion at March quarter.
Among the retail and wholesale managers, Macquarie Group’s FUM/A jumped by 12.4 per cent, or $7.5 billion to $68.5 billion on a like for like basis over the 12 months to March.
This included the acquisition of Perpetual’s private wealth administration platform.
Commonwealth Bank of Australia (CBA) increased by 15.2 per cent to $129 billion, National Australia Bank (NAB) recorded a jump of 15.1 per cent to $137 billion and Westpac jumped by 10.4 per cent to $121 billion over the 12 months.
The retail investment (non-super) segment recorded good quarterly net cash inflows after five years of negative figures.
FUM/A rose by 1.4 per cent, or $2.1 billion to $154 billion in the March quarter, up from $152 billion in the December quarter.
Among the top five managers, CBA FUM/A rose by 4.8 per cent, or $1.2 billion to $27 billion, up from $26 billion during the quarter.
Westpac FUM/A rose by 0.9 per cent to $32.7 billion, up from $32.4 billion.
Recommended for you
In this episode of Relative Return Insider, host Keith Ford and AMP deputy chief economist Diana Mousina break down the spike in inflation numbers and what it means for the possibility of a rate cut as we move into the new year.
In this episode of Relative Return Insider, host Keith Ford and AMP economist My Bui explore Prime Minister Anthony Albanese’s trip to the US and the critical minerals deal stemming from his meeting with President Donald Trump.
In this episode of Relative Return Insider, host Keith Ford and AMP chief economist Shane Oliver unpack the latest unemployment numbers and what they mean for a rate cut, as well as how the latest flare-up in the ongoing US–China trade dispute has highlighted the remaining disparity between gold and bitcoin.
In this episode of Relative Return Insider, host Keith Ford and AMP chief economist Shane Oliver take a look at the unfolding impacts and potential economic ramifications of the US government shutdown and the surge in gold and bitcoin prices.
