Did you know…master trusts prosper
Did you Know….master trusts prosper
By Samantha Walker
In spite of some industry pundits predicting the death of the master trust, the past year has seen these investment vehicles continue to grow in size.
Did you Know….master trusts prosper
By Samantha Walker
In spite of some industry pundits predicting the death of the master trust, the past year has seen these investment vehicles continue to grow in size.
Latest ASSIRT figures for the December 1999 quarter put the overall size of the master fund industry at just over $50 billion, up from $36 billion at the end of 1998.
ASSIRT’s figures also show an increase of just under $13 billion in funds in dis-cretionary master funds for the past year. Across the industry, just under $36.7 bil-lion sat in the coffers of discretionary master funds at the end of December, com-pared with almost $24 billion the year before.
Asgard is still the largest of the master trusts on offer, with just over $6.8 billion under management, or almost a quarter of the market.
Next in line is AMP Life with about $5 billion under management, an astounding $4 billion increase from December 1998.
Norwich’s Navigator master fund fills out the top three with $4.8 billion of client funds last December.
Top 10 Master Trusts ($ billion)
Name Dec 99 Size Dec 98
1. Asgard 6.73 5.25
2. AMP Life 4.97 1.03
3. Navigator 4.78 3.35
4. Westpac 3.87 2.89
5. Colonial 2.85 0.75
6. NAFM 2.74 -
7. Questor 2.42 2.18
8. FlexiPlan 2.23 1.25
9. Summit 1.28 0.86
10. Portfolio Care0.85 -
Recommended for you
ASIC has banned another two former financial advisers of MWL Financial Services of making inappropriate advice to clients regarding the Shield Master fund, following two bannings earlier this month.
Two surveys from CoreData and Vanguard have shared the level of trust the Australian public has in financial advisers, and how it has changed since the Hayne royal commission.
The Financial Advice Association Australia has stated it is “working closely” with the Financial Services Minister, Daniel Mulino, to remount the inquiry into Dixon Advisory by the Senate economics references committee.
Australian wealth manager Shaw and Partners has appointed a national head for its private wealth division, which has over 200 advisers and $40 billion in assets under management.
