Retail market flows fell 10 per cent last year
Total retail funds under management/administration (FUM/A) fell by 10.4 per cent over the year to June 30, 2008, down to $531.8 billion from $593.3 billion at the same time last year, according to DEXX&R.
In its latest Leading Indicator Market Share Report, the researcher said total retail FUM/A fell by 2.6 per cent during the June 2008 quarter, down from $545.9 billion as at March 2008.
The retirement incomes segment — the only segment to experience positive growth over the year to June 2008 — posted a net increase of 15.8 per cent in total FUM/A in the period, increasing from $77.5 billion as at June 2007.
The segment recorded a decline of 0.2 per cent during the three months to June 2008, falling to $89.7 billion as at June 2008 from $89.9 billion at March 2008.
Most of the ‘top 10 companies’ experienced high growth over the year to June 2008, with Colonial First State leading with a 25.8 per cent increase in total FUM/A.
With a decrease of $10.4 billion during the June 2008 quarter, the retail investment market segment (retail non-super) accounted for the largest fall in FUM/A in the retail market in the June quarter.
In the three months to June 2008, retail investment FUM/A decreased by 5.2 per cent to $190.1 billion from a total FUM/A of $200.5 billion in March 2008.
Over the 12 months to June 2008, retail investment FUM/A decreased by 14.7 per cent ($33 billion) from $223 billion at June 2007.
All ‘top 10 companies’ experienced a decline in FUM/A over the year to June 2008.
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