Master trusts leaking funds
The latest data released for actuarial research house Plan for Life has revealed that the total master fund market, comprised of platforms, wraps and master trusts, fell by 14.8 per cent in the 12 months to September last year to stand at $386.8 billion.
The data said inflows were down from the previous year’s record of $145.7 billion to just $110.9 billion, while outflows were slightly down to $89.7 billion.
Looking at platforms, the Plan for Life data said platforms comprised 53.4 per cent of the market but that funds under management were down 15.2 per cent over the year to $206.7 billion. Six companies hold over $10 billion in platform funds under management (FUM), led by Colonial First State with $37.2 billion and AMP Financial Services with $32.4 billion.
Looking at wraps, the data showed there had been a 15.8 per cent fall in FUM over the 12-month period, with the biggest players being Macquarie with $22 billion and Asgard with $17.9 billion.
AUTHOR
Mike Taylor
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.
