The latest data to be released by Sydney-based researcher Dexx&r has raised further questions about whether the market may have finally turned.
The data, released this week, revealed two consecutive months of rising wholesale funds under management (FUM) after 18 months of decline.
Dexx&r said wholesale FUM increased by 1 per cent during March, followed by a rise of 4.5 per cent during April.
It said the increase was attributable to improved investment earnings associated with a rise in Australian and international share indices.
However, the improvements in March and April have not been sufficient to drag the 12-month data into positive territory, with total FUM in the retail and wholesale markets down 23.6 per cent in March when compared to the same month a year earlier.
