Australian retail managed funds gained almost $30 billion in the September quarter while wholesale funds under management (FUM) were up $12 billion, according to the latest Plan For Life data.
Overall, retail funds reached $529.4 billion at the end of September, a 9.1 per cent increase from where they were a year prior.
AMP (16.7 per cent), CBA/CFS (10.5 per cent) and Mercer (10.0 per cent) saw the highest annual growth rates, with AMP's boosted significantly by its purchase of the $6.5 billion Cavendish SMSF business, Plan For Life stated.
Inflows declined 3.6 per cent to $44.2 billion during the quarter and were also down three per cent year-on-year.
Although retirement income rose 5.1 per cent, annual superannuation inflows were flat while inflows into non-superannuation markets were down across the board, according to Plan For Life.
AMP increased its retail FUM by $12 billion to $102.4 billion, increasing its market share from 18 per cent to 19.3 per cent.
Overall wholesale FUM climbed 13 per cent over the 12 months to September 2012, including a 4.2 per cent rise in the September quarter, despite ongoing volatility in underlying markets.
Challenger, Schroders, Vanguard and NAB/MLC all reported annual double digit FUM growth rates.
The most significant change in market share among major providers came from Challenger (up from 6.8 per cent to 8.8 per cent over 12 months) and AMP (up from 6.2 per cent to 8.1 per cent).
Reported gross inflows have increased by 10.5 per cent to $22 billion during the September 2012 quarter, but over the past 12 months inflows were still down by 4.4 per cent.
