Retail Managed Funds Declined Slightly by $4.5bn during September 2022 Quarter
/Overall Retail Managed Funds at the end of September totalled $1,004.8bn, down 7.6% over the past year due to weakness on investment markets as central banks raise interest rates in an attempt to control inflation after years of inappropriate loose economic management. Global markets have since risen but remain volatile and future falls in asset values seem inevitable as real interest rates are still negative so more rate rises are required to return to any semblance of normality.
The Top 4 Retail Fund companies Insignia (-9.1%), BT (-12.0%), Commonwealth / Colonial (-12.2%) and AMP (-10.3%) all finished lower. By contrast among the mid-sized players netwealth (11.4%), HUB24 (15.6%) and Challenger (8.1%) recorded increases in business while Praemium (0.3%) reported little change but Mercer (-7.4%) and Macquarie (-4.2%) were down.
Source: Plan For Life
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