Retail funds in the negative for June quarter
Retail managed funds dropped $11 billion (1.5 per cent) for the June quarter, but managed to finish the 2014/15 financial year strongly recording growth of 10.1 per cent to $730.3 billion, according to Plan For Life.
Plan For Life's retail managed funds administrator view report found good performances on investment markets over the past 12 months were responsible for two-thirds of the increase.
However, all funds recorded a negative June quarter growth rate.
Macquarie topped the funds in terms of its annual growth rate at 14.2 per cent, followed by BT Financial at 11.9 per cent, and AMP at 10 per cent.
BT Financial took the top spot for funds under management (FUM) at $137 billion.
In terms of markets, cash trusts stood strong for its annual growth rate at 17.4 per cent, followed by retirement income (14.3 per cent), and unit trusts and investment funds (12.9 per cent).
Cash trusts was the only market to record a positive quarterly growth rate of 4.1 per cent.
Recommended for you
Six months after scrapping its planned deal with KKR, Perpetual is yet to make significant headway on the sale of its wealth management division but is focusing on alternatives for product development.
Platinum Asset Management’s NPAT has fallen by 89 per cent in FY25, with the firm confirming that it will be renamed as L1 Group following the expected completion of its merger with L1 Capital.
Statutory NPAT at Pacific Current has almost halved in FY25 to $58.2 million as the result of an investment restructure.
Being able to provide certainty about redemptions is worth fund managers pursuing when targeting the retail market even if it means sacrificing returns, according to Federation Asset Management.
