More than $250 billion wiped from funds and super sector
Total funds under management and advice in retail and wholesale markets decreased by 26.7 per cent to $708 billion in the year to December 2008 or by $257 billion, according to researcher Dexx&R.
It decreased by 12.6 per cent ($102 billion) during the December 2008 quarter, down from $810 billion as at September 2008.
The total retail market decreased by 23.7 per cent to $454.5 billion over the year to December 2008, down from $596 billion at December 2007.
With a drop of 11.3 per cent ($10.2 billion) in the December quarter, the retirement incomes market has started to show signs of nervous investors seeking redemptions, according to Dexx&r.
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