FUM rises $86.4bn over the last year
An analysis has found that funds under management has grown 11.2 per cent to $859.9 billion over the year to September 2018.
Investment earnings on underlying assets over the past year accounted for around 70 per cent of this increase in funds.
Meanwhile, Strategic Insight noted year-on-year reported inflows into managed funds fell 9.9 per cent to $148.6 billion while corresponding outflows also decreased but by a more modest by 2.7 per cent to $140 billion.
“All the leading companies reported increases in their Masterfund business, with the best performances being recorded by Netwealth (40.6 per cent), off a relatively lower base, Macquarie (16.8 per cent), Commonwealth/Colonial [First State] (9.8 per cent), IOOF (9.6 per cent), Mercer (9.1 per cent), BT (8.9 per cent) and AMP (8.1 per cent),” said Strategic Insight.