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% |
