Combined retail and wholesale funds under management and advice increased by 16.5 per cent to hit $987 billion in the 12 months to December 2013.
According to research by DEXX&R, the increase added $140 billion to the December 2012 figure of $847 billion.
"The strong growth over the past 12 months was driven by substantial investment returns and increased inflows into the superannuation, retirement incomes and retail investment segments," said the DEXX&R report.
During the December 2013 quarter, total retail and wholesale FUM/A increased by 3.6 per cent ($34.1 billion).
"Of the top five retail and wholesale managers, Macquarie Group’s FUM/A, inclusive of Perpetual’s private wealth administration platform, increased by 33.7 per cent or $17.1 billion from $50.9 billion to $68.0 billion over the 12 months to December 2013," DEXX&R said.
"The acquisition of Perpetual’s private wealth administration platform during the June 2013 quarter contributed $7.6 billion to the increase in Macquarie’s FUM/A," the report stated.
Among the big four banks, CBA recorded an increase of more than 18.7 per cent in FUM/A over the 12 months to December 2013, while Westpac saw a 17.4 per cent increase, and NAB's FUM/A increased by 16.1 per cent over the same period.
Employer superannuation increased by 14.5 per cent to $121.5 billion in the 12 moths to December 2013, according to DEXX&R.
Personal super FUM/A was up 13.1 per cent ($22.4 billion) to $193 billion over the 12 months to December 2013; the retirement incomes segment was up 19.3 per cent to $149 billion; and retail investment (non-super) was up 3.7 per cent to $152 billion.
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