Wholesale Funds dropped 5.1% during the December quarter to $1,072.4bn while over the whole of the 2018 calendar year they were also down by a more moderate 3.1% with most of this decrease due to Net Fund Outflows. Additionally there was a correction on global stock markets in the last quarter of 2018; subsequently markets have bounced back with asset values now largely recovered.
Most major managers experienced slight to moderate reductions in their Wholesale funds under management including market leader State Street (-3.1%), UBS (-6.9%) and National Australia / MLC (-4.0%). By contrast Pendal (16.1%) and AMP (7.4%) both went against this modestly lower general trend and reported increases.
Source: Strategic Insight (Plan For Life)
Download Media Release: SI_PFL_Media_Release_Wholesale_1218