Wholesale Funds Fell by $17.7bn during September 2022 Quarter

Wholesale Funds at the end of September totalled $1,246.0bn, down by $17.7bn or 1.4% over the quarter. Meanwhile over the whole of the past year they decreased 14.6% with almost half this fall due to AMP reporting a $100bn drop in funds after it sold much of its Institutional business. Although underlying investment markets have subsequently increased they remain volatile as central banks try to grapple with inflation by increasing interest rates but as these are still negative in real terms further rises and reciprocal asset value falls are on the cards.

In addition to AMP (-62.4%) other leading Wholesale managers that reported decreases in their funds under management included Pendal (-17.4%), Vanguard (-11.9%), Insignia (-7.3%), Victoria Funds (-6.6%), Challenger (-6.0%) and First Sentier (-5.9%). Meanwhile the best performances were the fairly flat results of UBS (0.8%) and BlackRock (-1.1%) as well as the relatively modest fall posted by market leader State Street (-2.8%).

Source: Plan For Life

Download Media Release: PFL Media Release Wholesale 922