Retail Managed Funds Increased by $24.7bn during June 2023 Quarter
/Retail Managed Funds ended the 2022/23 financial year up 7.3% to $1,082.7bn after increasing 2.3% during the June quarter. After a positive year on investment markets asset values are again under pressure as financial regulators realise to control inflation they must ensure sustained positive real interest rates going forward and jettison the cheap money experiment of the past decade.
The market leaders were mixed with Insignia (4.7%) and Commonwealth / Colonial (5.3%) reporting increases while AMP (-8.3%) and BT (-18.8%) finished lower. In the case of BT this was due to circa $33bn worth of its business being transitioned to Mercer (141.5%) that consequently saw its funds under management more than double. Macquarie (17.1%), netwealth (25.7%), HUB24 (26.2%) and Praemium (14.0%) also posted double digit percentage increases.
Source: Plan For Life
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