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.
AUTHOR
Chris Kennedy
Recommended for you
It can be extremely hard to realise the gains from financial advice M&A, according to Peloton Partners’ Rob Jones, and more could be gained from firms looking inward at their own practice.
With platforms reporting their quarterly results, there is a clear divide in the adviser markets they are targeting, according to platform specialist Recep Peker, and which would be right for your clients.
The Federal Court has imposed a $10 million penalty on Macquarie Bank for failing to prevent and control unauthorised fee transactions by third parties including financial advisers.
A financial advice firm has seen a weekly decline of 10 advisers, with all moving to a new licensee, while Centrepoint Alliance continues its “growth story”.
