BT leads masterfund market
BT Financial Group is the leader in funds under management (FUM) in the total masterfund market, beating National Australia Bank/MLC and Commonwealth Bank/Colonial groups.
Figures released in Plan for Life’s annual analysis of wrap, platform and master trust managed funds show BT’s total FUM reached $83.5 billion at the end of the March 2010 quarter, acquiring annual growth of 27 per cent.
The fund manager leads despite a 50 per cent fall in platforms.
National Australia Bank/MLC group has had the biggest annual growth in FUM, with Commonwealth Bank/Colonial right behind.
Plan for Life figures also show the total masterfund market stood at $417.2 billion as at 31 March 2010, up 26.9 per cent over the year.
Platforms now comprise more than half of the total market, while master trusts’ declining market share reached 14.5 per cent in the March 2010 quarter.
AUTHOR
Milana Pokrajac
Recommended for you
TAL has introduced four new courses to its Risk Academy focused on ethical dilemmas as part of Ethics Month to help advisers meet their CPD requirements.
Unadvised Australians believe they need $2 million to retire comfortably, according to Colonial First State, a wide variance compared to advised individuals which estimate $1.3 million.
Financial advisers can now access Vanguard’s diversified managed account strategies on HUB24 and Netwealth, marking a “significant expansion” through new distribution channels.
The heads of two financial advice licensees have joined the board of the Financial Services Council as it looks to deepen its engagement with the space and strengthen its representation.
