There has been no slowing in the growth of retail managed funds in Australia, according to the latest data released this week by actuarial firm Plan for Life.
The Plan for Life data revealed that the level of funds in retail managed funds had grown by 3.4 per cent or $16.2 billion during the September quarter to now total $494.9 billion, with the strongest annual growth rates recorded by St George, Mercer, Macquarie and AXA.
It said the highest gross inflows growth over the year had been achieved by St George (81.5 per cent), UBS (81.5 per cent), Macquarie (19.3 per cent), Adelaide Managed Funds (17.4 per cent) and AMP (16.4 per cent).
Looking at superannuation and rollovers, the Plan for Life data revealed funds growth of 14.4 per cent, with Mercer (23.6 per cent), St George (18.2 per cent), AMP (17.1 per cent), AXA (16 per cent) and Aviva (14.9 per cent) achieving the highest growth rates.
From an administrator perspective, the Plan for Life data said St George, Commonwealth/Colonial, Macquarie, AXA and BT/Westpac had achieved the highest funds under management growth rates.
It said the highest inflows growth over the year for administrators was achieved by UBS (81.5 per cent) and St George (70.7 per cent).
