$232.8bn Jump in Reported Wholesale Funds during June 2023 Quarter

Wholesale Funds jumped 18.6% in the June quarter to total $1,481.8bn; this was largely due to First Sentier including $222.7bn of previously unreported funds under management without any history for this business so far.

Over the past year reported Wholesale Funds increased by 22.3% (excluding First Sentier this drops to a more modest 3.9%). Investment markets subsequently rose further but have recently fallen back once again as central banks continue to try to control inflation by normalising interest rates after years of failed so called modern monetary theory ultra-low rates. Other managers seeing significant increases in Wholesale business included Perpetual (222.8%), due to its Pendal acquisition, Challenger (37.8%), Macquarie (13.7%), State Street (12.7%), Victorian Funds (10.4%) and Vanguard (8.3%).

Source: Plan For Life

Download Media Release: PFL Media Release Wholesale 623