FUM falls again
Market volatility is continuing to erode funds inflows in Australia with the latest data from two research houses, Plan for Life and Dexx&r, painting an ominous picture.
The Plan for Life data for September revealed that overall retail managed funds at the end of September had declined by 15.2 per cent over the year to total $513.8 billion after declining by 3.9 per cent during the quarter.
It said that the best results in terms of the lowest percentage decreases had been recorded by Mercer, AXA Australia, ING Australia and AMP, while the worst performers had included Macquarie, St George, Commonwealth/Colonial and National Australia/MLC.
At the same time, Dexx&r said that total retail and wholesale funds under management had fallen by $168 billion or 17.2 per cent with the total retail market decreasing by 15.5 per cent.
It said that with a decrease of $12.7 billion during the September quarter, the retail investment market segment had accounted for the biggest fall in the retail market.
AUTHOR
Mike Taylor
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