POWERED BY MOMENTUM MEDIA
Assets under custody sees jumps to $3.7t
The Australian Custodial Services Association (ACSA) has released new asset servicing industry statistics for the six-months ending 30 June 2019, showing an increase of 4.2% in assets under custody (AUC) for both Australian and foreign investors.
JP Morgan was still the top AUC for Australian investors at $809.4 billion with a 1.5% change.
NAB Asset Servicing ($564 billion; 6.6% change); Citigroup ($506.7 billion; 9.9% change); BNP Paribas ($501 billion; 6.6% change); and State Street ($489.5 billion; 9.6% change) rounded out the top five.
Robert J Brown, ACSA chief executive, said total AUC for Australian investors jumped by 4.2% to $3.7 trillion.
“The figures show that assets under custody bounced back after a decline in the six-months ending 31 December, 2018, increases in value have been influenced by strong performance of underlying investment markets along with inward flows,” Brown said.
“Assets held in Australia for foreign investors (sub-custody) increased by 10.6% to $1.6 trillion at the end of June 2019 also reversing the decline in value evidenced in the prior period.
“Looking forward for ACSA, the finalisation of our Managed Funds Improvement Program, continued advocacy for efficient implementation of regulatory change and engagement on ASX CHESS Replacement Project remain key priorities for the sector.”
AUC for foreign investors jumped 10.6% to $1.7 trillion, with the top five HSBC ($1.2 trillion; 10.3% change); JP Morgan (244.8 billion; 16.9% change); Citigroup ($158 billion; 3.3% change); BNP Paribas (19.8 billion; 26.1% change); and NAB Asset Servicing ($9 billion; no change).
Recommended for you
The rollout of further tariffs in the US from August is expected to decrease economic growth in the US in the longer term, AMP and asset managers warn.
The Australian Retirement Trust is adopting a “healthy level of conservatism” towards the US as the end of the 90-day tariff pause approaches, with “anything possible”.
Uncertainty around tariffs and subdued growth may lead to some short-term constraints in relation to the private credit market, the fund manager has said.
Just three active asset managers are expected to attract net inflows over the coming year, according to Morningstar, with those specialising in fixed income or private markets best positioned to benefit.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom 465 Calder Road Calder
99.46 3 y p.a(%)
2
DomaCom DFS Mortgage
95.46 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
78.55 3 y p.a(%)
4
BetaShares Crypto Innovators ETF
50.39 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
47.50 3 y p.a(%)
