Australian managed funds hit $838 billion
Australia’s march toward having $1 trillion in managed funds continues, with $838.7 billion being amassed as at March 31.
According to the Australian Bureau of Statistics’ (ABS) latest Managed Funds Report, the $838.7 billion figure represents an increase from the December quarter of $26.1 billion, or 3.2 per cent.
The assets in superannuation funds increased by $22.5 billion to $434.7 billion, a jump of 5.5 per cent, while public unit trusts rose 1.9 per cent to a consolidated $171.1 billion.
These vehicles took up the slack of life insurance office statutory funds, cash management trusts and common funds, which stood little changed by the end of the quarter at $184.3 billion, $34.7 billion and $9.5 billion respectively.
Friendly societies, meanwhile, suffered a 1.1 per cent decline to $4.5 billion.
Australian investment managers had $821.4 billion under management at March 31, a 2 per cent or $16.5 increase in the preceding three months. These managers ran $555.4 billion of consolidated managed fund assets, about two-thirds of the total.
Recommended for you
With an advice M&A deal taking around six months to enact, two experts have shared their tips on how buyers and sellers can avoid “deal fatigue” and prevent potential deals from collapsing.
Several financial advisers have been shortlisted in the ninth annual Women in Finance Awards 2025, to be held on 14 November.
Digital advice tools are on the rise, but licensees will need to ensure they still meet adviser obligations or potentially risk a class action if clients lose money from a rogue algorithm.
Shaw and Partners has merged with Sydney wealth manager Kennedy Partners Wealth, while Ord Minnett has hired a private wealth adviser from Morgan Stanley.
