Platform outguns competition in FUM growth

A platform provider has outperformed all of its major competitors in terms of annual percentage growth in funds under management in 2018, new data reveals.

According to new figures from Strategic Insight, Netwealth FUM grew from $15.4 billion to just under $19 billion, a growth of 23 per cent across 2018.

Macquarie was the only other major platform to record any positive growth, with a 0.8 per cent increase in FUM during the same period, from $80.48 billion to $81.12 billion.

Overall, FUM was down by $10.6 billion during 2018 to stand at $811.2 billion, Strategic Insight said.

Masterfund inflows of $149.1 billion fell 9.8 per cent in 2018 while outflows rose 1.2 per cent to $145.6 billion, giving an overall net flow of $3.6 billion, down sharply on the $21.4 billion posted in 2017.

“A significant sell-off on global stock markets saw them fall between 10 to 20 per cent in the December quarter, more than wiping out all of the rest of the year’s investment earnings,” said Strategic Insight.

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“However, since then they have recovered much of what was lost but remain highly volatile.”

Adrian Flores

Adrian Flores

Adrian Flores is a features editor at Momentum Media, focusing mainly on banking, wealth management and financial services. He has also written for Public Accountant, Accountants Daily and The CEO Magazine.

You can contact him on [email protected].

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