$27.7bn Growth in Retail Managed Funds Reported during March 2021 Quarter
/Overall Retail Managed Funds bounced back strongly from the COVID-19 selloff suffered in early 2020, up 17.4% over the past year to total $998.6bn. Over the March quarter they were up 2.9% with markets subsequently further strengthening so that at date of publication some markets are in record territory despite many experts still predicting an overdue sustained correction.
Over the past year most Retail companies reported double digit plus increases in their funds under management led in percentage terms by Praemium (223.7%) , HUB24 (135.7%), netwealth (49.4%), Macquarie (28.2%), Mercer (17.9%) and BT (17.8%). The jumps recorded by Praemium and HUB24 were thanks to their acquisitions of Powerwrap and Xplore.
Source: Plan For Life
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