Platforms increase $144.3bn in Funds Under Management over the year to March 2021

Masterfunds ended the year to March 2021 jumping 18.7% to $915.4bn as global investment markets recovered from the falls that were incurred in the March 2020 sell-off triggered by the start of the COVID-19 pandemic. During the March quarter they were up $26.2bn, or 2.9%. Markets have subsequently climbed further and most are now once again in or close to record territory despite continuing worries in the background about the potential for what appears to be a long overdue correction. Year on year both Inflows and Outflows were lower by 9.4% and 9.0% to $149.5bn and $147.9bn respectively resulting in a small overall Net Fund Inflow of just $1.6bn continuing the low real growth of the previous two years when they were up by $2.4bn and just $0.4bn, all of these well below the $18.3bn average experienced over the previous decade.

Year on year all of the leading companies enjoyed significant increases in their funds under management. Medium sized players Praemium ($16.9bn up 223.7%) and HUB24 ($35.6bn up 135.7%) saw their business more than triple and double respectively as a result of their mergers with Powerwrap and Xplore Wealth. Market Leader BT ($169.6bn up 19.8%) reported strong growth while the rest of the Top 5 companies also saw substantial increases with AMP ($140.5bn up 9.7%), Commonwealth / Colonial ($137.2bn up 16.3%), National Australia / MLC ($120.5bn up 14.4%), and Macquarie ($100.1bn up 28.2%). Double digit percentage increases were recorded as well by IOOF ($77.3bn up 12.3%), netwealth ($41.8bn up 50.1%) and Mercer ($26.3bn up 17.9%).

Source: Plan For Life

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