Wholesale Funds Drop a Dramatic $118.6bn during the March 2020 Quarter

Overall Wholesale Funds fell sharply by 9.6% during the March quarter to total $1,118.0bn as global investment markets dropped sharply with the fall initiated by the extraordinary quarantine measures enforced to slow the spread of the COVID-19 pandemic. They have since partially bounced back (US markets fully) but are starting to go backwards once more as economies worldwide remain in trouble with this volatile and uncertain situation expected to continue as in many countries the virus spread remains out of control. Over the past twelve months Wholesale Funds were down 2.6%.

Most of the largest managers saw their business decline but Vanguard (18.7%) and Challenger (7.5%) along with market leader State Street (3.7%) managed to report some increases however Pendal (-10.2%), National Australia / MLC (-10.1%), BlackRock (-8.9%), Victorian Funds (-7.1%) and UBS (-5.2%) were lower.

Source: Plan For Life

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