$2.7bn Increase in Wholesale Funds during September 2021 Quarter

Wholesale Funds at the end of September totalled $1,518.8bn, up by just $2.7bn or less than 0.2% over the quarter. However over the past year they were up 32.4% but it should be noted that AMP's inclusion of previously internally invested funds after the demerger of AMP Capital was responsible for a large chunk of this and excluding that the annual percentage increase in Wholesale Funds was around 20%. Significant investments earnings and to a lesser degree positive net cashflows both contributed to this growth.

All leading Wholesale managers reported increases in funds under management. As well as IOOF (280.5%), due to its MLC acquisition and AMP (242.4%) double digit growth rates were also recorded by State Street (49.3%), Pendal (43.7%), Challenger (28.3%), Vanguard (18.5%), UBS (16.4%) and BlackRock (11.0%).

Source: Plan For Life

Download Media Release: PFL Media Release Wholesale 921