Property leads fall in pooled fund FUM
A 17.1 per cent decrease in property funds under management (FUM) lead a decrease in total FUM by wholesale and pooled superannuation funds, according to researcher DEXX&R.
The Dexx&r Wholesale and Pooled Superannuation Fund monthly report for March this year found FUM fell 5.9 per cent in the 12 months to March 31 this year.
Total assets for the 1,000 funds in the report universe fell from $331.9 billion on March 31 last year to $312.3 billion on March 31 this year.
Property decreased from $23 billion on March 31 last year to $19.1 billion on March 31 this year, representing a 17.2 per cent fall. It also fell 0.1 per cent between February this year and March 31 this year.
Multi-sector FUM increased from $45.4 billion in March last year to $46.7 billion this year, a 2.9 per cent increase. It also posted a 2.2 per cent month increase between February and March this year.
Australian shares FUM fell 11.1 per cent for the year to March 31, 2008, falling from $86.5 billion last year to $77 billion this year, and registering a month on month fall of 3.4 per cent.
International shares fell 8.6 per cent for the year, from $105.1 billion on March 31 last year to $96.1 billion on March 31 this year, and registering a month on month fall of 0.5 per cent.
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