Australian managed accounts now hold over $30 billion in funds under management (FUM), according to a survey by the Institute of Managed Account Professionals (IMAP).
The IMAP's 2016 Managed Accounts FUM Survey found the managed accounts sector constitutes around $30.87 billion in FUM, equivalent to approximately 5 per cent of all investment assets held on platforms, the institute said in a statement.
Separately managed accounts (SMAs) and managed investment schemes (MISs) account for around $8.8 billion in FUM, while managed discretionary accounts (MDAs) represent approximately $10.2 billion, the statement said.
Other managed accounts, including individually managed accounts (IMAs) and investor-directed portfolio services (IDPSs) reported around $11.85 billion in FUM.
The 2016 FUM figure is a significant jump from the $13 billion figure of the 2015 survey, and the IMAP said the increase is a result of new participants, who have operated services since 2015, entering the sector as well as new services being introduced after the previous survey.
IMAP chairman Toby Potter said that while “managed accounts have been growing rapidly”, he also noted “it’s been hard to be sure just how much is managed in this way”.
The IMAP is not releasing the FUM associated with each provider, citing confidentiality reasons.
“They will release this if they want and, of course, some publicly listed organisations do this as a matter of course,” Mr Potter said.
Read more:
Global listed infrastructure set to boom
Australian dollar facing downside risk
OneVue hires client services head
Disruption could drive low inflation: HSBC
Steady strategy better during low-rate period: Kinetic
Investors are being advised to position their portfolios defensively in 2019 as Europe may be teetering on the brink of recession according ...
The government has asked for public consultation on two bills that will implement the tax and regulatory components of the CCIV regime and i...
Despite Theresa May’s proposed Brexit plan suffering a large defeat in the UK parliament, AMP thinks it may result in a softer outcome ove...
