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.
AMP appoints new group general counsel
Australian Unity hires former ANZ Wealth exec
First State Super announces new CEO
Corporate governance and advocacy in China
The shifting LIC landscape
The perils of chasing niche infrastructure