FUM/A up by 16 per cent to September
Funds under management and advice (FUM/A) held in retail and wholesale managed funds shot up by 16.4 per cent to $953 billion in the 12 months to September.
This comes on the back of hefty investment returns and bigger inflows into superannuation, retirement incomes, and retail investment segments, Dexx&R research showed.
This is a $134 billion increase on the September 2012 figure of $819 billion.
FUM/A surged 5.1 per cent, or $46.1 billion, during the September 2013 quarter to $953 billion.
Of the top five retail and wholesale managers, Macquarie Group's FUM/A rose by 3.3 per cent or $16.1 billion to $64.5 billion over the 12 months to September 2013.
It comes as Macquarie Group acquired Perpetual's private wealth administration platform during the June quarter, adding $7.6 billion to its FUM/A.
Commonwealth Bank rose by 19 per cent, NAB by 18.4 per cent and Westpac recorded an 18.3 per cent increase over the 12 months.
Employer super FUM/A rose by 17.4 per cent or $17.4 billion over the year to September.
National Australia Bank (NAB) employer super FUM/A outclassed its peers, with an increase of 32.6 per cent over the year.
NAB's FUM/A rose to $26.4 billion at September 2013, up from $20 billion at September 2012.
This substantial increase is due to Plum Financial Services' recent success in winning mammoth super scheme tenders for NAB, including BHP Billiton's $2.8 billion super fund.
Westpac recorded a 16.6 per cent boost in FUM/A to $15.5 billion, Mercer jumped by 12.9 per cent to $13.2 billion and AMP rose by 12.2 per cent to $24.7 billion.
Recommended for you
Record flows into iShares ETFs helped BlackRock’s assets under management reach US$13.5 trillion in the third quarter, but it reported outflows from the APAC region.
Regal Partners has passed $20 billion in funds under management, helped by $723 million in net inflows during the last three months.
Global investment manager Fidante has formed a strategic partnership with a London-based asset manager to secure exclusive distribution rights across the APAC region.
Blackwattle Investment Partners has hired a management trio from First Sentier Investors – who departed amid the closure of four investment teams last year – to run its first equity income offering.
