$10.1bn Decline in Overall Wholesale Funds during September 2018 Quarter

Wholesale Funds at the end of September totalled $1,125.7bn, up 12.8% over the past year despite decreasing slightly by 0.9% in the latest quarter.

Wholesale managers recording positive rates of funds growth included Vanguard, AMP, Victorian Funds Management, Challenger, State Street and BlackRock. Note the apparent massive jump in Vanguard business was due to the inclusion of $79bn of previously unreported Institutional Wholesale funds for which so far only four quarters of history has been provided; adjusted for this Vanguard’s growth drops back to 9.7% (still the highest) and that of the overall Wholesale Funds market to a more moderate 4.8%. Investments earnings were responsible for all of the overall annual growth as total reported Net Flows were over $21bn in the red; subsequently stock markets are down 10% or more, wiping out the last twelve months’ worth of gains, with the correction continuing.

Source: Strategic Insight (Plan For Life)

Download Media Release: SI PFL Market Overview Wholesale 918