Investment markets are buoyant but fund inflows are increasing at a slower rate.
Australian retail and wholesale fund inflows increased 13.5 per cent in the past 12 months, a drop of 5.67 per cent on the previous corresponding period.
Total funds under administration (FUA) rose to $895 billion over the 12 months to 31 March 2007.
This is compared to a 19.17 per cent growth to $785 million in the 12 months to March 2006.
The results are extracted from the leading indicator market share report issued by financial services research house Dexx&R.
The results indicate that the market continues to have strong growth, Dexx&R managing director Mark Kachor said.
“Undoubtedly for super the next quarter is going to be even bigger. It’s a preview that we’ll experience a very strong June quarter.”
The total retail market increased by 15 per cent to $541 billion to March 2007, compared to a rise of 18.21 per cent to $458.23 billion to March 2006.
The retirement income market in allocated pensions increased 20 per cent, compared to 23.59 per cent to March 2006.
CFS and ING recorded a 39 per cent increase in personal super FUA. Aviva’s Navigator platform recorded a 28 per cent increase and St George-owned Asgard had a 27 per cent increase. All increased FUA for the previous corresponding period.
