Funds under management and advice held in retail and wholesale managed funds increased by 11 per cent over the 12 months to June 2015.
According to DEXX&R, funds under management and advice (FUM/A) increased to $1.11 trillion over the 12 months to June 2015, up $110 billion from the previous year.
In the retail market, the strongest growth was recorded in the retirement incomes segment, with a 14.8 per cent increase in FUM.
DEXX&R reported that out of the top five retail and wholesale managers, AMP increased its FUM/A by 10.9 per cent to $13.9 billion.
This was followed by Macquarie, with an increase of 10.6 per cent to $77 billion, NAB by 9.0 per cent to $152 billion and CBA by 7.9 per cent to $142 billion.
The non-super retail investment segment also recorded an increase, up 12.5 per cent, or $19.4 billion to $38.7 billion as at June 2015.
While NAB and Westpac increased FUM/A in this segment by 19.2 per cent and 15.7 per cent respectively, Macquarie and CBA recorded losses.
Macquarie FUM/A decreased by 0.5 per cent to $35.7 billion while CBA noted a decline of 1.9 per cent to $30.5 billion.
Economists agree that the Reserve Bank is likely to remain in inflation fighting mode until December. ...