Australia’s funds management industry has almost $3 trillion of funds under management, new data has revealed.
Total funds under management reached $2.9 trillion during the March quarter, according to the Australian Bureau of Statistics.
That marked a 1.0 per cent increase on the previous quarter and a 9.1 per cent increase on the previous year.
Of that $2.9 trillion under management, $2.0 trillion was placed with resident investment managers – an increase of 1.4 per cent over the quarter and 14.0 per cent over the year.
The other $0.9 trillion was placed with non-resident investment managers or invested directly into the markets. That pool of funds rose 0.3 per cent in quarterly terms but fell 0.7 per cent in annual terms.
|March quarter||Quarterly change||Annual change|
|Total managed funds industry||$2.9 trillion||1.0%||9.1%|
|Placed with resident investment managers||$2.0 trillion||1.4%||14.0%|
|Placed with non-resident investment managers or invested directly into the markets||$0.9 trillion||0.3%||-0.7%|