Masterfund flows climb further in 2010
Wraps, platforms and master trusts together experienced net inflows of $14.5 billion in the 2010 calendar year to $427.7 billion, after growing $72.5 billion in 2009, according to Plan For Life data.
This included a net increase of $10.2 billion in the December quarter alone, with both inflows and outflows for the year well up on 2009, according to the firm’s analysis of wrap, platform and master trust managed funds for 2010.
All major companies grew their funds under management over the year aside from IOOF and Perpetual, which both decreased slightly, the report found.
BT remained the leader in terms of total funds with $85.5 billion or 20 per cent of the market, followed by NAB/MLC with $79.1 billion and Commonwealth/Colonial with $57.4 billion.
Wraps with $150 billion slightly increased their market share from 34.6 per cent to 35 per cent. Platforms with $214.2 billion were steady at around 50 per cent of market share and master trusts had $63.6 billion or just under 15 per cent of the market, according to the report.
Recommended for you
The corporate regulator has cancelled the AFSL of a Perth advice firm, with the firm having previously seen its licence temporarily suspended in 2020.
Having proposed changes earlier this year, ASIC has clarified how it will support licensees with additional relief under the reportable situations regime.
AMP has partnered with BlackRock and research house Lonsec to provide a model portfolio capability on its North platform that offers “portfolio customisation at scale” to advice practices of all sizes.
Money Management rounds up actions ASIC took against advice individuals in the first half for FY25 from exam falsifications to dishonest conduct.
