Powered by MOMENTUM MEDIA
moneymanagement logo
 
 

FUM/A up by 16 per cent to September

cent/westpac/amp/funds-management/research-and-ratings/national-australia-bank/commonwealth-bank/mercer/super-fund/

28 November 2013
| By Staff |
image
image image
expand image

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.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...

3 weeks ago

It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...

4 weeks ago

So we are now underwriting criminal scams?...

7 months ago

After last month’s surprise hold, the Reserve Bank of Australia has announced its latest interest rate decision....

3 weeks 2 days ago

WT Financial’s Keith Cullen is eager for its Hubco initiative to see advice firms under its licence trade at multiples which are catching up to those UK and US financial ...

3 weeks 6 days ago

While the profession continues to see consolidation at the top, Adviser Ratings has compared the business models of Insignia and Entireti and how they are shaping the pro...

1 week 1 day ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND