Platforms Increase $4.2bn in Funds Under Management in 2020

After falling sharply in the first few months of 2020 due to the onset of the COVID-19 pandemic global investment markets then spent the rest of the year recovering. As a result, Masterfund business ended 2020 slightly higher up just 0.5%, or $4.2bn to total $894.6bn. Since then markets have continued to climb with in particular the US markets once again in record territory buoyed by hopes that the start of vaccination programs will eventually bring the pandemic under control but for now that seems like a long way off particularly in poorer third world countries.

Gross Inflows and Outflows almost counterbalanced each other at $153.6b and $154.1bn after falling year on year by 4.8% and 5.4%. Mid-sized players netwealth ($38.8bn up 36.1%), HUB24 ($22.0bn up 38.8%) and to a lesser degree Macquarie ($51.5bn up 12.8%) all enjoyed some strong growth. Meanwhile the experience of the four market leaders was mixed with AMP ($142.6bn down 8.1%), National Australia / MLC ($117.4bn down 3.3%), Commonwealth / Colonial ($116.8bn up 0.9%) and BT ($114.6bn up 5.5%). Following its acquisition of ANZ’s Masterfund business, IOOF ($82.4bn up 112.6%) more than doubled in size.

Source: Plan For Life

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