Data reveal significant outflows

9 April 2019
| By Mike |
image
image
expand image

Australia’s major fund managers experienced significant outflows of funds last year, according to the latest analysis from specialist research house, Dexx&r.

The Dexx&r analysis covering the 12 months to December, last year, revealed that funds under management and advice (FUM/A) held in retail and wholesale managed funds decreased by 4.4 per cent to $1.21 trillion over the period, representing a decrease of $56.1 billion on the December 2017 figure of $1.26 trillion.  

The data revealed the Retirement Incomes Segment experienced the largest decrease in FUM with a 7.6 per cent decrease of $13.1 billion over the 12 months to December 2018, while Employer Super recorded the second highest decrease, a 7.3 per cent decrease, $11.5 billion over the same period.

It showed that Retail Investment (non-super) recorded a 4.6 percent decrease, $10.1 billion, and Personal Super a decrease of 4.1 per cent, $9.3 billion, over the 12 months to December 2018.

According to Dexx&r amongst the five largest retail and wholesale managers the Commonwealth Bank recorded a 7.7 per cent decrease to $141.6 billion, Macquarie a 5.8 per cent decrease to $101.8 billion, Westpac a 5.3 per cent decrease to $141.6 billion, NAB a 5.0 per cent decrease to $167.8 billion and AMP an 0.4 per cent decrease to $157.7 billion. 

 It found that in the December 2018 quarter, total Retail and Wholesale FUM/A decreased by 6.6 per cent, ($85.0 billion), down from $1,293 billion at September 2018 to $1,208 billion at December 2018.  

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest developments in Super Review! Anytime, Anywhere!

Grant Banner

From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...

10 months 1 week ago
Kevin Gorman

Super director remuneration ...

10 months 2 weeks ago
Anthony Asher

No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...

10 months 2 weeks ago

The profit-to-member super funds are officially operating as a merged entity, set to serve over half a million members. ...

1 day 18 hours ago

Super Review announced 21 winners at the annual Super Fund of the Year Awards, including the recipient of the prestigious Fund of the Year Award....

2 days 9 hours ago

APRA data shows the CFMEU accounted for 28 per cent of super fund industrial contributions, with the shadow treasurer calling for a prompt investigation into the payments...

3 days 13 hours ago