$52.4bn Drop in Retail Managed Funds reported during December 2018 Quarter
/In a rather tumultuous end to 2018 Retail Managed Funds fell 5.5% during the December quarter due to the effects of an arguably long overdue partial correction on global markets. This wiped out all of the gains made in the previous nine months and as a result over the whole of 2018 Retail funds under management fell 1.3% to $894.1bn after allowing for $5bn of positive Net Fund Flows.
Mid-sized player netwealth (21.8%) again reported a significant jump in its Retail funds under management during 2018 while among the majors only Macquarie (0.7%) managed to record a very marginal increase in business with the rest all lower including in particular ANZ (-7.4%) and National Australia / MLC (-6.0%). Importantly it should be noted as at publication date global investment markets have subsequently all bounced back again to recover most of what was lost during the December quarter but remain very volatile.
Source: Strategic Insight (Plan For Life)
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