BT blames takeover fallout for inflow blues
Bankers Trust (BT) has suffered its lowest quarterly net inflow to its Australian retail unit trusts in two years during the March 1999 quarter, according to Morningstar's latest retail managed investment market share figures.
Bankers Trust (BT) has suffered its lowest quarterly net inflow to its Austra-lian retail unit trusts in two years during the March 1999 quarter, according to Morningstar's latest retail managed investment market share figures.
Morningstar says BT Funds Management (BTFM) attracted only $11 million in net new monies in the three months to end-March.
Its figures, however, differ markedly from those of competing research group AS-SIRT, which show a net inflow of $228.5 million for BTFM in the March quarter - a rise from $185.6 million the previous quarter.
BTFM head of sales and marketing Rob Coombe says: "It is not for us to comment on the discrepancies. The flows have been positive, so they both got it right.
"We're very happy with the situation given the six months of uncertainty we've been through and we expect things to be resolved in two to three weeks time. To tell you the truth, we actually thought that the situation would be worse than it is."
Coombe concedes that BTFM has lost market share, but says this is not surpris-ing, given that half the research groups slapped "hold" notices on it after news broke that Deutsche Bank had put it up for sale.
Meanwhile, Commonwealth Financial Services has topped the ASSIRT's quarterly in-flow tables for the fourth time in a row, even though its March inflows were lower than the $663.1 million reported for the December quarter.
Newcomers to the top 10 this quarter are Colonial and Perpetual while Lend Lease's quarterly inflows jumped from $169.2 million in December to $324.7 mil-lion in March.
Ends
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
