Wholesale FUM still negative
The impact of volatile investment markets on wholesale funds is becoming less pronounced, according to the latest data released by research house Dexx&r.
The Dexx&r Wholesale Report, which covers over 900 wholesale funds, found that wholesale total funds under management fell by 2.5 per cent during July 2008 from $294.4 billion, representing the third consecutive month of decline.
The data revealed that net cash flow for the 12 months to July 2008 was negative $6.5 billion.
Dexx&r said that all of the market sectors recorded decreases in funds under management over the past month, with the multi-sector market the only one to record an increase, rising 2.3 per cent.
AUTHOR
Mike Taylor
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