POWERED BY MOMENTUM MEDIA
IOOF's inflows grow
The picture of a positive third quarter continues to evolve with IOOF Holdings revealing funds under management, administration, advice and supervision (FUMAS) has increased by $6.3 billion.
As at September 30, 2009, IOOF's FUMAS was $102 billion, up from $96.6 billion as at June 30, 2009. Its investment management segment rose 14.8 per cent while its platform business rose 10.2 per cent.
All major platforms, excluding Global One, posted positive net flows. On an annualised basis, IOOF has seen redemption rates fall across the business.
The group stated that flows for its major platform and investment management businesses, and the related client referral mechanisms, continued to return to normal activity levels.
The group is also enjoying good times in the investment management space as Perennial Investment Partners won a number of wholesale mandates over the same quarter.
AUTHOR
Munro, Caroline
Recommended for you
Superannuation funds have posted another year of strong returns, but this time, the gains weren’t powered solely by Silicon Valley.
Australia’s $4.1 trillion superannuation system is doing more than funding retirements – it’s quietly fuelling the nation’s productivity, lifting GDP, and adding thousands to workers’ pay packets, according to new analysis from the Association of Superannuation Funds of Australia (ASFA).
Large superannuation accounts may need to find funds outside their accounts or take the extreme step of selling non-liquid assets under the proposed $3 million super tax legislation, according to new analysis from ANU.
Economists have been left scrambling to recalibrate after the Reserve Bank wrong-footed markets on Tuesday, holding the cash rate steady despite widespread expectations of a cut.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom 465 Calder Road Calder
99.46 3 y p.a(%)
2
DomaCom DFS Mortgage
95.46 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
78.55 3 y p.a(%)
4
BetaShares Crypto Innovators ETF
50.39 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
47.50 3 y p.a(%)
