Platforms Fall $37.9bn in Funds Under Management over the year to September 2020

Masterfunds ended the year to 30 September 2020 down 4.3% or $37.9bn, to total $840.1bn however during the latest September quarter they actually increased $14.7bn, or 1.8%. Almost three quarters of the decrease in funds under management was due to an overall negative investment return on underlying assets over the past year.

Year on year Inflows into Masterfunds were unchanged, down just 0.1% at $157.6bn to slightly exceed corresponding Outflows of $155.6bn that were down by 4.2%. The Top 3 companies all reported decreases; AMP ($138.6bn down 10.8%), National Australia / MLC ($111.4bn down 7.7%) and Commonwealth / Colonial ($109.1bn down 5.2%). No 4 BT ($106.3bn) was up slightly by 2.0% while IOOF ($78.7bn) jumped into 5th, doubling in size thanks to its ANZ acquisition. Mid-sized players netwealth ($34.0bn up 34.4%) and HUB24 ($19.0bn up 32.2%) were also sharply higher.

Source: Plan For Life

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