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% |
A property and personal finance writer, Nick Bendel covers property, loans, credit cards, superannuation, and other bank products. Nick has previously written for The Adviser, Mortgage Business, Lifehacker, Business Insider, Yahoo Finance, and InvestorDaily, and loves getting elbow-deep in the latest ABS, APRA and RBA data.
