The Australian investment platform, wrap and masterfund markets have performed well in 2013, particularly the major providers, according to Plan For Life Data.
A new report by the actuaries and research company found a 20.4 per cent increase in the wrap, platform and master trust managed fund markets over the year to September 2013, off the back of favourable economic conditions.
“Masterfunds ended the year to 30 September 2013 jumping 20.4 per cent or $91.6 billion to total $541.6 billion; during the September quarter alone they were up $31.3 billion, or 6.1 per cent” the report stated.
Breaking the $541.6 billion into sectors, wraps accounted for $203.6 billion (up 28.4 per cent over the past 12 months), platforms represented $261.1 billion (up 17.9 per cent) and master trusts accounted for $77 billion (up 9.9 per cent).
“All of this substantial growth was on the back of strong underlying investment markets bolstered by the fiscal stimulus and easy money policies being pursued by governments worldwide as they try to address serious and well-founded concerns about high unemployment,” said the report.
The major service providers – listed as Macquarie, Commonwealth/Colonial First State, NAB/MLC and IOOF – fared especially well, all reporting “double digit percentage increases” in their respective masterfunds businesses.
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 21 Aug 2017Advisers key to ‘living the dream’: FPABy Staff Reporter
- 21 Aug 2017US IFA history repeats itself in AustraliaBy Killian Plastow
- 21 Aug 2017Licensees need greater scrutiny, PJC hearsBy Larissa Waterson
- 18 Aug 2017ASIC permanently bans former AMP adviserBy Staff Reporter
- 18 Aug 2017IRESS announces first half resultsBy Jessica Yun
- 18 Aug 2017Banks the key to closing advice gap, Tria saysBy Larissa Waterson
- view all