‘Better super’ continues to deliver inflows
Andrew Penn
Australia’s so-called ‘better super’ regime is continuing to deliver dividends for the major financial services houses, with AXA Asia Pacific announcing that total inflows in Australia and New Zealand had exceeded $15 billion for the nine months to September 30.
The company’s chief executive, Andrew Penn, said growth in retail gross and net inflows had accelerated in the September quarter to be up 41 per cent and 61 per cent respectively — due to strong inflows into superannuation.
Drilling down, the AXA Asia Pacific data showed that superannuation gross inflows had grown 35 per cent to $3.55 billion and net inflows were up 57 per cent to $1.65 billion, while investment product gross inflows had risen 48 per cent to $4.22 billion.
The big group said platform gross inflows were up 37 per cent to $3.83 billion while advice gross inflows had risen by 3 per cent to $1.20 billion.
AUTHOR
Mike Taylor
Recommended for you
Compared to four years ago when the divide between boutique and large licensees were largely equal, adviser movements have seen this trend shift in light of new licensees commencing.
As ongoing market uncertainty sees advisers look beyond traditional equity exposure, Fidante has found adviser interest in small caps and emerging markets for portfolio returns has almost doubled since April.
CoreData has shared the top areas of demand for cryptocurrency advice but finds investors are seeking advisers who actively invest in the asset themselves.
With regulators ‘raising the bar’ on retirement planning, Lonsec Research and Ratings has urged advisers to place greater focus on sequencing and longevity risk as they navigate clients through the shifting landscape.
