Platforms' Reported Funds Under Management decreased by $19.5bn over the year to March 2023

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Masterfunds ended the year to March 2023 a little lower down 1.9% to $982.5bn as global investment markets recovered in the last six months to finish fairly flat. This was despite central banks ending an unprecedented era of ultra-low interest rates as they normalise their monetary policies in an effort to control inflation. Year on year Inflows declined 5.9% to $164.7bn but they still significantly exceeded Outflows that rose 3.2% from $145.8bn to $150.5bn resulting in a $14.2bn overall Net Inflow.

The Top 4 Insignia ($198.5bn down 4.2%), BT ($162.6bn down 7.1%), Commonwealth / Colonial ($137.4bn down 4.5%) and AMP ($134.0bn down 6.8%) all experienced decreases in funds under management. However all the other leaders finished higher with netwealth ($65.9bn up 14.4%) and HUB24 ($59.4bn up 16.5%) both reporting double digit percentage growth while Macquarie ($121.9bn up 3.8%), Mercer ($30.5bn up 4.8%) and Praemium ($21.7bn up 4.9%) also recorded increases.

Source: Plan For Life

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