Research from DEXX&R has found funds under management or advice (FUM/A) at the major institutions increased for the 12 months to December 2014.
FUM/A for retail and wholesale managed funds grew to $1.07 trillion in the period, according to a statement from DEXX&R.
Out of the top five retail and wholesale managers, AMP, CBA, NAB and Westpac experienced double-digit growth over the year, the research found.
“NAB’s FUM/A increased by 10 per cent – $13.3 billion, up from $132.5 billion to $145.8 billion over the 12 months to December 2014,” the statement said.
“AMP recorded an increase of 10.1 per cent to $136 billion, Westpac a 9.8 per cent increase to $132 billion and CBA an 8.8 per cent increase to $137 billion over the 12 months."
The research house also found within the December 2014 quarter, total retail and wholesale FUM/A grew by 4.6 per cent, increasing from $1.021 billion in September 2014 to $1.068 billion.
DEXX&R also said in the employer super segment, 11 per cent of total FUM/A is in the MySuper option, up from 9.0 per cent in September 2014.
“As at December 2014, 27 per cent of total FUM continues to be held in Default options compared to 32 per cent in the previous quarter,” the statement said.
“Other investment options including multi-sector, Australian shares and overseas investments account for 62 per cent of total FUM/A, a small increase from 59 per cent as at September 2014."
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 15 Nov 2018We’ll lose advisers through FASEA but it’s necessaryBy Adrian Flores
- 15 Nov 2018ASIC flexes its muscles at independent advisersBy James Mitchell
- 15 Nov 2018FPA hands down $50,000 fine on Sam HendersonBy Adrian Flores
- 15 Nov 2018Adviser reviews critical to client retentionBy Adrian Flores
- 14 Nov 2018ASIC bans financial services representativeBy Eliot Hastie
- 14 Nov 2018Fintech should make advice ‘enjoyable’By Adrian Flores
- view all