Over the 2013 calendar year, total funds under management (FUM) in the retail space increased by 17.9 per cent.
“Buoyant investment markets as a result of the quantitative easing/low interest rate policies of governments around the world saw all of the leading companies report substantial increases in business,” said the Plan For Life report.
Macquarie saw its FUM increase by 51 per cent due to its amalgamation of the $7.6 billion Perpetual Private Wealth platform into its wrap business.
Perpetual also saw an 80 per cent increase in business as a result of its takeover of The Trust Company, according to Plan For Life.
“Some of the better performers included Commonwealth Bank/Colonial First State (20.7 per cent), AMP (20 per cent), Perpetual (18.0 per cent), BT (15.8 per cent) and National Australia/MLC (15.4 per cent) who all experienced strong double digit annual growth rates,” said the report.
“Gross inflows for 2013 totalled $196.1 billion, up 19.1 per cent year-on-year. During the December quarter alone inflows were 8.9 per cent higher than for the corresponding September quarter,” said Plan For Life.
