Retail Managed Funds ended the 2013/14 financial year up 13.5% to total $674.9bn, while during the June 2014 quarter they increased by 2.2%. Good performances on investment markets over the past twelve months were responsible for almost three quarters of this increase.
Companies to report some of the largest percentage increases in their Retail funds under management included Perpetual (24.9%), AMP (17.1%), Macquarie (15.8%), BT (14.9%), Commonwealth / Colonial (14.4%), National Australia / MLC (12.7%) and IOOF (10.4%). It should be noted that much of Perpetual’s very high headline growth rate was due to its takeover of Trust Company of Australia and if this was excluded its annual rate of growth would reduce to a still significant circa 10%.
Gross Inflows for the year to June were $184.7bn which was little changed, down just 0.6%, on the previous twelve months total. There was a 9.0% increase in Gross Inflows in the June quarter.
Read the full Plan For Life analysis.
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