Retail managed funds ended the 2015/16 financial year up 2.8% to total $766.3bn; in the June quarter they rose $15.3bn or 2.0%.
Lacklustre choppy investment market performances over the past twelve months were largely responsible for this mediocre result. Most companies reported relatively little change in their Retail funds under management exemplified by Commonwealth / Colonial (2.7%), AMP (1.4%), Perpetual (0.9%) and Mercer (0.6%) or conversely National Australia / MLC (-2.1%), IOOF (-1.7%) and ANZ (-1.3%). Market leader BT recorded an almost flat result while only Macquarie (25.9%) reported any significant growth in its Retail business.
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Wholesale funds grew by 1.8% during the June 2016 quarter to $878.0bn however overall for the past twelve months they remained little changed, up just 0.6% due to the twin effects of negative net Fund Flows coupled with relatively marginal investment earnings.
AMP, Challenger and BlackRock reported increases in their Wholesale funds under management offset by falls recorded by UBS, Vanguard and MFS.
Source: Strategic Insight (Plan For Life)
