$50.4bn Growth in Wholesale Funds during June 2020 Quarter
/Wholesale Funds bounced back 4.6% during the June quarter to total $1,139.1bn regaining almost half the loss incurred in the March quarter when worldwide investment markets suffered sharp corrections triggered by the spread of the corona virus pandemic. Subsequently while many markets have now almost fully recovered back to levels at the start of the year, in particular the US, it is worth noting the Australian and UK markets have not. Over the twelve months to June Wholesale Funds declined 2.2%.
While Challenger (25.7%), BlackRock (16.5%) together with to a somewhat lesser degree No. 2 player Vanguard (6.4%) reported increases in their funds under management the rest of the leading Wholesale managers were all lower including National Australia / MLC (-20.6%), Pendal (-8.9%), Victorian Funds (-7.6%), AMP (-5.9%) and market leader State Street (-4.3%).
Source: Plan For Life
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