DEXX&R reveals annual FUMA stats

Funds under management and advice (FUMA) held in retail and wholesale for profit managed funds decreased by 9.9% to $1.36 trillion over the 12 months to September 2022.

Data from DEXX&R showed this was a decrease of $149 billion on September 2021.

The largest decreases were seen in Macquarie which was down 2.9%, Westpac down 2.6% and Insignia (ex-NAB) which was down by 2.2%.

Industry and public sector super fund FUMA increased by 0.2% to $1.413 trillion over the 12 months, up from $1.410 trillion in September 2021.

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Looking at specific industry funds, Australian Super saw its FUMA increase by 11.5% over the 12 months to $268 billion.

Australian Retirement Trust (ART), formed from the merger of QSuper and Sunsuper, had FUMA of $224 billion while Aware Super increased by 0.6% to $144 billion.

However, UniSuper decreased by 0.3% to $89.5 billion and REST decreased by 0.7% to $66.3 billion.

On a quarterly basis, FUMA held in retail and wholesale for profit managed funds decreased by 3.3% to $1.36 trillion, down from $1.40 trillion at June 2022.

Meanwhile, personal super FUMA decreased by 12% to $37.5 billion to $274.5 billion. However, DEXX&R said this was related to changes by Westpac.

“Some of this decrease can be attributed to Westpac reclassifying $18.3 billion from its “Super for life” product from personal to corporate during December 2021 quarter.”