Plan B FUMA hits $2.19 billion
Plan B has announced that funds under management, administration or advice (FUMA) was $2.19 billion at the end of March, marking an overall increase of 19.7 per cent in FUMA compared to 30 June 2009 and an increase of 1.2 per cent in contrast to its December 2009 position.
The proportion of total FUMA held on Plan B’s platforms rose to 77.6 per cent at the end of March 2010, while the on-platform FUMA was $1.70 billion — 23.3 per cent higher that at 30 June last year and 3.4 per cent higher than at the end of 2009.
Recommended for you
Unregistered managed investment scheme operator Chris Marco has been sentenced after being found guilty of 43 fraud charges, receiving the highest sentence imposed by an Australian court regarding an ASIC criminal investigation.
ASIC has cancelled the AFSL of Sydney-based Arrumar Private after it failed to comply with the conditions of its licence.
Two investment advisory research houses have announced a merger to form a combined entity under the name Delta Portfolios.
The top five licensees are demonstrating a “strong recovery” from losses in the first half of the year, and the gap is narrowing between their respective adviser numbers.
