$3.3bn Fall in Retail Managed Funds during September 2019 Quarter
/Overall Retail Managed Funds at the end of September totalled $976.1bn, up 3.1% over the past year while for the latest quarter they were more or less flat down by a marginal 0.3%. That said, both headline growth rates were negatively affected by the once-off transfer of StatePlus Master Fund business worth $18.6bn (Super $5.7bn, Pension $12.9bn) out of Retail Funds to First State Super, a Public Sector Super Fund, excluding that the underlying overall annual and quarterly growth rates were 5.0% and 1.6% respectively with all growth due to positive performances on underlying investment markets as overall annual reported Net Flows were negative $5.8bn.
Most of the participants in the Retail market posted increases in funds led by smaller to mid-sized players HUB24 (57.5%), netwealth (30.8%), OneVue (28.2%) and Praemium (28.1%). Among the majors IOOF (6.2%), Commonwealth / Colonial (5.1%), Macquarie (4.0%) and BT (3.4%) fared best but ANZ (-5.0%) and AMP (-1.9%) were both lower.
Source: Plan For Life
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