Platforms' Reported Funds Under Management rose by $66.9bn over the year to June

Masterfunds increased by 7.2% over the whole of the 2022/23 financial year to $993.3bn. While Wraps ($567.7bn up 10.1%) and Platforms ($379.9bn up 13.8%) finished higher Master Trusts ($45.7bn down 40.7%) dropped largely due to the circa $35bn transition of BT's Master Trust business to Mercer’s Platform. During the June quarter Masterfunds were up $25.2bn or 2.6% nevertheless asset values on investment markets are again under pressure as financial regulators realise to control inflation in future they must ensure real interest rates are positive and abandon the failed cheap money experiment. Over the past year reported Inflows and Outflows jumped by 19.5% and 36.1% respectively to total $202.6bn and $191.9bn.

Mercer ($65.4bn up 141.5%) saw its funds under management more than double as a result of the BT transaction while market leader Insignia ($202.2bn up 4.7%), Commonwealth / Colonial ($139.0bn up 5.2%), Macquarie ($126.5bn up 17.1%), netwealth ($70.1bn up 26.0%), HUB24 ($62.7bn up 26.2%) and Praemium ($22.2bn up 14.0%) also reported increased business. However AMP ($122.0bn down 8.3%) finished lower.

Source: Plan For Life

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