Retail FUM/A hits $1.2tn

Retail FUM/A hits $1.2tn

Funds under management and advice in retail and wholesale super funds hit $1.2 trillion at June 2017, according to DEXX&R.


The money held in retail and wholesale superannuation increased by 8.2 per cent ($92 billion) throughout 2017-18 to hit $1.2 trillion, said DEXX&R.

NAB saw the largest increase throughout the 12 months to 20 June 2017, up 9.4 per cent to $166.1 billion.

AMP was second (up 5.9 per cent to $156.8 billion) followed by CBA (up 6.2 per cent to $147 billion).

Westpac and Macquarie rounded out the top five, with increases of $144.5 billion and $104.7 billion, respectively.

The retirement incomes sector saw outflows from allocated pensions increase by 97 per cent to $17.3 billion throughout the June 2017 quarter, said DEXX&R.

"Allocated pension net cash flow has now been negative in each of the past four quarters," said the researcher.

"Total FUM/A in the retirement incomes segment decreased by 2.8 per cent [$5.4 billion] to $187.7 billion at June 2017, down from $193.1 billion at March 2017."

 

Retail FUM/A hits $1.2tn
investordaily image
ID logo
promoted stories

Appointments

investordaily image

Fortnum hires former Centric Wealth CEO

Staff Reporter

Deborah Ralston

SMSF Association names new chair

Katarina Taurian

Curtis Cifuentes

Avenir Capital hires investment director

Staff Reporter

Analysis

investordaily image

A correction, not a turning point

James Swanson

Martin Dropkin

Why bond covenants matter

Martin Dropkin

Maurizio Canton

Striking a balance between security and innovation

Maurizio Canton