Retail investment (non-super) growth outstripped employer superannuation and personal super funds under management and advice (FUM/A), according to DEXX&R.
DEXX&R’s latest Analysis Market Share Report based on retail and wholesale FUM/A found retail investment FUM/A increased 5.7 per cent ($10.7 billion) to $197.7 billion over the year to December 2016.
Macquarie recorded the top increase of 8.8 per cent to $51.1 billion, followed by Westpac (8.4 per cent to $42.8 billion), and Commonwealth Bank (six per cent to $33.1 billion).
Personal super recorded a 3.1 per cent increase of $6 billion, employer super a three per cent increase of $4.5 billion and retirement incomes a 3.2 per cent increase of $5.9 billion.
FUM/A held in retail and wholesale managed funds increased by 2.8 per cent to $1.16 trillion over the year to December 2016.
Within the five largest retail and wholesale managers, Westpac recorded the highest growth at 5.6 per cent to $139.7 billion, followed by AMP (5.2 per cent to $151.3 billion), NAB (3.4 per cent to $157.8 billion), and Commonwealth Bank (0.2 per cent to $142.2 billion).
The report also found over the same period, retirement income FUM/A increased by 3.2 per cent, or $5.8 billion, to $187.3 billion at December 2016.
The $9 billion fund is backing agriculture investor GO.FARM, with its capital already directed towards enhancing two key assets.
Brighter Super is considerably scaling down the investment options it offers members in order to reduce costs.
Amid a challenging market environment, three super fund CIOs have warned against ‘jumping at shadows’.
The professional body is calling for the annual performance test to transition to a two-metric test, so it better aligns with the overarching duty of super fund trustees to act in the best financial interests of their members.
Add new comment