Platforms - Reported Funds Under Management fell by $43.6bn over the year to June 2022

Masterfunds decreased by 4.5% over the whole of the 2021/22 financial year to $922.9bn. While Wraps ($523.7bn up 0.4%) finished flat the Platforms ($322.8bn down 7.8%) and Master Trusts ($76.3bn down 19.4%) sub-markets were both lower. During the June quarter Masterfunds were down $74.8bn, or 7.5% due to falls on global stock markets. Asset prices remain under pressure as financial authorities worldwide raise interest rates from historic lows to more sustainable levels to try to control inflation. So far they have not succeeded (not surprising as real interest rates are still negative) so further rate rises and reciprocal falls in asset values seem inevitable. Reported Inflows of $168.2bn were up by 5.6% on the 2020/21 total of $159.3bn while corresponding Outflows were 5.4% lower at $139.3bn resulting in an overall Net Fund Inflow of $28.9bn.

All of the Top 4 saw decreases in funds under management with Insignia ($193.1bn down 6.8%), BT ($161.3bn down 7.9%), AMP ($133.0bn down 8.9%) and Commonwealth / Colonial ($132.1bn down 7.6%). A couple of medium sized Masterfund players netwealth ($55.7bn up 18.1%) and HUB24 ($49.7bn up 19.9%) outperformed with both recording significant growth meanwhile 5th placed Macquarie ($108.1bn up 0.3%) finished more or less little changed.

Source: Plan For Life

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