Platforms jump $149.2bn in Funds Under Management over the year to June 2021

Overall Masterfunds were up strongly by 18.3% over the whole of the 2020/21 financial year to total $965.7bn with all three of the sub-markets Wraps ($498.2bn up 23.0%), Platforms ($357.2bn up 13.4%) and Master Trusts ($110.4bn up 14.2%) finishing significantly higher. During the June quarter Masterfunds were up $54.5bn, or 6.0%. Aa at date of publication global markets are still holding up following their bounce back from the 2020 COVID-19 correction but are now showing signs of plateauing after their early September highs. Reported Inflows of $157.8bn were slightly down by 1.3% on the 19/20 total of $159.8bn while corresponding Outflows were 7.5% lower at $146.5bn resulting in an overall Net Fund Inflow of just $11.2bn.

All leading companies saw significant growth in their funds under management. IOOF ($207.2bn up 185.7%), HUB24 ($41.5bn up 140.8%) and Praemium ($18.4bn up 223.4%) recorded triple digit jumps due to mergers with MLC, Powerwrap and Xplore. BT ($175.0bn up 18.3%), Macquarie ($107.8bn up 25.9%) and netwealth ($47.1bn up 49.6%) also had above average growth.

Source: Plan For Life

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