Managed accounts finished 2019 strong

IMAP/managed-accounts/Milliman/toby-potter/separately-managed-accounts/SMA/managed-discretionary-accounts/MDA/

17 March 2020
| By Mike |
image
image image
expand image

Managed accounts were continuing their rise and rise in Australia late last year and before the current market volatility, with the latest Institute of Managed Accounts Professionals (IMAP) and Milliman showing they grew by $7.9 billion in the last six months of 2019.

The IMAP census of managed accounts showed that as of 31 December, last year, funds under management (FUM) in managed accounts stood at $79.29 billion – an increase of $7.9 billion over the figure for 30 June, last year, when FUM stood at $71.383 billion.

Commenting on the latest data, IMPAP chairman, Toby Potter said the census suggested that investors were working closely with and had confidence in their financial advisers, evidenced by the steady inflows of new funds into managed account arrangement.

Milliman head of capital markets – Australia, Victor Huang, said the main features of investment markets for the second half of 2019 were growth and continued volatility.

Potter said that a continuing trend was that platform-based separately managed accounts (SMAs) were growing at a faster rate and closing in on the numbers of managed discretionary accounts (MDAs).

“Managed account growth continues to outstrip growth in platform FUA which suggests that most growth is coming from advisers recommending managed accounts to existing clients,” he said.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

5 months ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

5 months 1 week ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

7 months 1 week ago

The FSCP has issued a written direction to an adviser who charged clients “extraordinary fees” for inappropriate and conflicted advice, as well as encouraged them to swit...

1 week 6 days ago

ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager. ...

3 weeks 2 days ago

ASIC has confirmed the industry funding levy for the 2024–25 financial year, and how much licensees can expect to pay....

3 days 20 hours ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
2
DomaCom DFS Mortgage
95.46 3 y p.a(%)
5