Platforms' Reported Funds Under Management rose by $103.3bn over the year to June 2024

Masterfunds increased by 10.3% over the whole of the 2023/24 financial year to $1,102.0bn. Wraps ($641.3bn up 12.1%), Platforms ($405.4bn up 7.2%) and Master Trusts ($55.3bn up 14.6%) all finished higher. During the June quarter Masterfunds started to show signs of plateauing rising by a relatively modest $5.4bn or 0.5% however subsequently underlying investment markets have again strengthened which will in turn flow-on into the growth rate for the September quarter. Over the year to June reported Inflows and Outflows declined by 4.9% and 4.7% to total $192.0bn and $181.8bn respectively.

All the Top 5 Masterfund players Insignia ($215.7bn up 6.7%), Colonial ($143.4bn up 3.1%), Macquarie ($142.4bn up 12.6%), BT ($136.4bn up 4.3%) and AMP ($127.0bn up 4.3%) reported growth in business. In fact all leading participants were higher with in particular mid-sized "up and comers" netwealth ($87.6bn up 24.8%) and HUB24 ($84.4bn up 34.6%) as well as smaller players Praemium ($28.1bn up 26.4% including the acquisition of OneVue) and Russell ($12.6bn up 24.3% including the transfer of Crescent Super) outperforming by recording 20% plus growth rates.

Source: Plan For Life

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