Australia’s unconsolidated wholesale funds under administration (FUA) market has grown 19 per cent over the past 12 months to $1.5 trillion, according to the latest Rainmaker Advantage report on the industry.
That is the highest increase in FUA since 2013. Of that $1.5 trillion, platforms make up the majority - at $776 billion, followed by retail unit trusts at $432 billion, an estimated $157 billion available in pooled vehicles used by SMSFs, $103 billion in exchange traded funds (ETF), $53 billion in listed investment companies (LIC) and $1.5 billion in ASX mFunds.
Rainmaker (publisher of this website) says that platforms, with their FUA increasing by 20 per cent over the past 12 months, have now fully recovered from the COVID-induced downturn in early 2020. Colonial First State is now Australia's biggest platform with $142 billion in FUA, having overtaken BT’s $138 billion in FUA.
Exchange traded funds experienced the biggest increase in funds under management over the 12 months - up by 81 per cent to $103 billion. Managed accounts have seen a surge in popularity as well with their inflows increasing by 14 per cent over the quarter and 50 per cent over the year to $111 billion.
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