Platforms' Reported Funds Under Management Fell by $73.8bn over the year to September 2022

Masterfunds over the past twelve months decreased 7.4% or $73.8bn to stand at $921.6bn. Wraps were down by a relatively modest 3.6% to $518.6bn but Platforms and Master Trusts both fell more significantly by 9.3% and 21.5% to total $327.9bn and $75.0bn. During the September quarter Masterfunds dipped slightly by $4.8bn, or 0.5% and while underlying investment markets have since increased they remain volatile as central banks try to grapple with inflation by increasing interest rates but as these are still negative in real terms further rises and reciprocal asset value falls are still on the cards. Inflows totalling $164.1bn were 4.2% lower than the $171.3bn recorded in the previous year nevertheless they still comfortably exceeded Outflows despite these falling 7.4% from $149.9bn to $138.8bn, resulting in an overall positive Net Funds Flow of $25.3bn.

All the major Masterfund participants saw their reported funds under management fall with Insignia ($189.8bn down 9.1%), BT ($156.9bn down 12.0%), AMP ($130.8bn down 10.3%), Commonwealth / Colonial ($129.7bn down 10.1%) and Macquarie ($110.2bn down 4.2%) however mid-sized players netwealth ($58.1bn up 11.8%) and HUB24 ($52.4bn up 15.6%) both rose.

Source: Plan For Life

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