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.
“However, since then they have recovered much of what was lost but remain highly volatile.”
[b][/b][b][/b]Hey Adrian. If you are referring to calendar 2018, Praemium’s Australian custodial platform FUM grew by 15% to $5.6 billion (now $6.4bn) and 14% globally to $8.4 billion. Cheers