AMP Group has the largest slice of the master fund market, with 19.4 per cent market share or $83 billion in funds under management (FUM) in products directly marketed by the company, according to Plan for Life figures.

National Australia Bank/MLC came in second with a market share of 18.4 per cent or $78.9 billion in FUM in the year to 30 June 2011.

Commonwealth Bank of Australia/Colonial First State was the third with a market share of 12.6 per cent or $53.8 billion in FUM.

The total master fund market gained 6.6 per cent or $26.7 billion over the year to $428.4 billion, but in the June quarter funds fell by $5.5 billion.
 
The market experienced $106.9 billion of inflows, up from last year's result of $99.3 billion, but outflows also rose 18.6 per cent to $95.1 billion from $75.2 billion.

All major companies apart from Suncorp and Perpetual reported some growth over the year, Plan for Life said.

Looking at the different sectors in the market, wraps represented 34.7 per cent of the market at $148.5 billion in FUM.

This was down slightly from the 35 per cent market share a year ago.
 
BT Financial was the largest player in the wrap market in the year to 30 June 2011 with 21 per cent of FUM in its own products, while it administered 47.8 per cent of the total wrap market through its systems.

Platforms comprised 50.2 per cent of the total market, with $215.2 billion in FUM, up 6.9 per cent over the year.

Master trusts had 15.1 per cent market share with $64.7 billion in FUM, attracting only 11.7 per cent of total inflows with $12.5 billion over the 12 months.