$58.2bn Growth in Retail Managed Funds during June 2021 Quarter
/Retail Managed Funds ended the 2020/21 financial year up 17.3% to total $1,052.7bn after a strong June quarter when they increased by 5.9%. At date of publication global stock markets are still holding up following their bounce back from the COVID-19 correction in the first half of 2020 but are now showing signs of plateauing after early September highs.
All of the leading companies recorded significant increases in Retail Funds including in particular Praemium (223.4%), IOOF (180.3%), HUB24 (140.8%), netwealth (49.0%), Macquarie (25.9%), Mercer (18.6%), BT (16.1%) and Commonwealth / Colonial (12.0%). The IOOF, Praemium and HUB24 jumps were as a result of their respective acquisitions of MLC, Powerwrap and Xplore.
Source: Plan For Life
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