Funds under management and advice (FUMA) in the industry and public super fund segment have risen 8.5 per cent in the year to 30 June 2023.
According to data from DEXX&R, FUMA increased by 8.5 per cent to $1.79 trillion over the 12 months to June 2023. This is an increase of $140.5 billion on the June 2022 figure of $1.64 trillion.
Looking at the top funds within this, AustralianSuper FUMA increased by 16.6 per cent over the 12 months to June 2023, up by $39.7 billion to $295.5 billion.
Australia’s third-largest fund, Aware Super, increased by 8.7 per cent to $155.6 billion. Australia’s second-largest fund, Australian Retirement Trust, formed by the merger of Sunsuper and QSuper, had FUMA of $244.9 billion as at June 2023.
Looking by market segment, retirement income FUMA grew 6.6 per cent over the year, up from $204.8 billion at June 2022, to $218.3 billion in June 2023.
Personal super increased by 11.7 per cent to $310.8 billion at June 2023 during the June quarter with quarterly cash inflows of $6.7 billion and investment earnings of $3.9 billion. Over the financial year, FUMA in personal super increased by 11.7 per cent to $310 billion that is up from $278 billion a year ago.
Employer super FUMA increased by 2.2 per cent to $160.7 billion over the financial year, up from $158.4 billion. However, the segment saw negative inflows of $63 million during the June quarter although it was helped by investment earnings of $2.4 billion.
FUMA held in retail and wholesale for-profit managed funds increased by 8.2 per cent over the 12 months to 30 June 2023 to a total to $1.54 trillion. This is an increase of $116.6 billion on the June 2022 figure of $1.4 trillion.
Looking specifically at the largest retail and wholesale managers, Insignia recorded a 6.4 per cent increase to $280.5 billion, Macquarie a 16.4 per cent increase to $155.1 billion, and CFS a 7.1 per cent increase to $149.2 billion.
On a quarterly basis, FUMA in retail and wholesale for-profit managed funds increased by 1.5 per cent from March 2023.
