Platforms' Reported Funds under Management increased by $123.2bn over the year to March 2024

Masterfunds finished the year to March 2024 12.7% higher to total $1,094.9bn driven by some strong investment earnings. Year on year reported Inflows and Outflows jumped by 30.9% and 39.2% to be $216.6bn and $210.5bn respectively largely thanks to Mercer’s acquisition of $35bn of BT Super funds which impacted both statistics. As a result, overall Masterfunds recorded only a relatively modest $6.1bn Net Inflow.

Most companies reported increases in their Masterfund business including market leaders Insignia ($216.9bn up 9.3%), Colonial ($143.7bn up 4.6%), Macquarie ($141.8bn up 16.4%) and AMP ($126.7bn up 6.0%) while in particular two next tier players netwealth ($84.4bn up 28.2%) and HUB24 ($79.7bn up 34.1%) posted very large double digit percentage increases. Mercer ($71.3bn up 134.0%) saw its business more than double while BT ($137.4bn down 15.5%) finished lower.

Source: Plan For Life

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