Funds under management and advice (FUM/A) in retail and wholesale managed funds grew by 7.4 per cent over the 12 months to March 2017 after falling the previous year, says DEXX&R.
According to the DEXX&R Analysis Market Share Report, FUM/A grew to $1.186 trillion in the 12 months ending March 2017, an increase of $81 billion on the previous year.
In the year ending March 2016, FUM/A dropped by 3.4 per cent to $1.105 trillion.
Among the five largest retail and wholesale managers, NAB recorded an 11 per cent increase to $165.6 billion, AMP an 8.4 per cent increase to $151 billion and Westpac a 9.9 per cent increase to $132.6 billion.
The retail investment (non-super) segment showed the largest growth of all the sectors with an increase of 9.9 per cent, $18 billion, in FUM over the year, the statement said.
Within the retail investment (non-super) segment, CBA FUM/A increased by 12.3 per cent to $34.2 billion, Macquarie recorded an increase of 10.1 per cent, up $4.7 billion to $50.8 billion, and Westpac recorded an increase of 14.4 per cent, up $5.5 billion to $44 billion.
Of the other sectors, personal super recorded a 7.6 per cent increase of $15 billion, employer super a 7.1 per cent increase of $10 billion and retirement incomes a 6.7 per cent increase of $12 billion over the same period.
“Note that investment returns have been the primary driver of growth FUM/A over the past 12 months in each segment as net cash flows have been negative across all segments,” DEXX&R said.
Over the March 2017 quarter, total retail and wholesale FUM/A rose 1.8 per cent, $21 billion, up from $1,165 billion at December 2016 to $1,186 billion at March 2017.