$102.3bn Drop in Wholesale Funds during June 2022 Quarter

Wholesale Funds fell by 7.5% in the June quarter to $1,263.1bn. Over the past twelve months reported Wholesale Funds decreased by 13.2% but circa half of this was due to AMP reporting a $100bn drop in its funds under management last quarter following the sale of much of its Institutional business. Investment markets remain weak as central banks worldwide struggle to control inflation by raising interest rates and trying desperately to bring their monetary policies back to some semblance of normality. As a result asset values inflated by the years of profligacy have now begun to fall but it is clear there is still some way to go.

Wholesale Fund managers reporting decreases in funds under management included as mentioned AMP (-67.5%) as well as Pendal (-15.0%), Victorian Funds (-5.9%), Vanguard (-5.5%), First Sentier (-5.0%) and Insignia (-4.6%).

Source: Plan For Life

Download Media Release: PFL Media Release Wholesale 622