Wholesale Funds Fell by $12.8bn during September 2023 Quarter

Wholesale Funds at the end of September totalled $1,272.3bn, representing a decrease of 1.0% or $12.8bn over the quarter. Meanwhile over the whole of the past year they finished up 6.2% due to a combination of buoyant investment markets, despite global central banks finally trying to normalise interest rates in an effort to control inflation, together with Challenger and First Sentier including some of their previously unreported Wholesale business.

Other leading Wholesale managers that reported increases in their funds under management included Perpetual (230.6%), following its acquisition of Pendal, the two market leaders State Street (13.2%) and Vanguard (6.9%) along with also BlackRock (6.8%) and Macquarie (10.2%).

Source: Plan For Life

Download Media Release: PFL Media Release Wholesale 923