IMAP announces that Managed Account FUM reaches $111.01bn on 30 June 2021

IMAP (The Institute of Managed Account Professionals Ltd) in conjunction with Milliman has released the latest data in its 6 monthly Managed Accounts FUM Census long term series.

As at 30 June 2021 Funds Under Management (FUM) in Managed Accounts stood at $111.0 bn - an increase of $15.8 bn in the 6 months from 31 Dec 2020 FUM total of $95.2 bn.

Toby Potter Chair of IMAP said “The significance is not just that Managed Accounts have now been used by advisers for 24 plus years, but that in the past 5 years alone the value of clients’ investment advised through Managed Accounts has increased by $80bn. We can remain confident that the managed accounts advice and investment sector is contributing strongly to wealth management of Australians of all ages.”

Potter said “This is positive news and reassuring for investors especially considering the continued high levels of major change across multiple key areas and Covid disruptions.

The Managed Account sector has been challenged by market conditions, regulatory reform, restructuring of the adviser market and continued consolidation through acquisitions, advisers moving between licensees, competition to justify fees and striving for consistent investment performance from investment managers.”

Victor Huang, Milliman's Principal & Head of Investment Solutions Asia-Pacific advised that “The investment markets have kept up the positive tone for 12 months now as businesses adapt to the changing environment.

There has been some level of continued volatility. Despite this, the value of the ASX / S&P 200 Accumulation Index rose 12.9% over the period, (compared with the 13.2% increase in the prior 6 months).

The FUM results split between types of managed accounts is as follows:

“I am pleased to report that two new participants bring us to a total of 48 companies participating in the latest FUM Census. I thank them for their efforts, and I encourage all organisations offering Managed Account services to participate in IMAP’s Census “ said Toby Potter.

Participants range from individual licensees to the large platforms, banks, and MDA Providers.

Note Organisations which act as investment managers (for example on SMA platforms) are included through the SMA issue

[1] Decrease due to one off transition from “Other” to SMA/MIS category reported in IMAP’s Dec 2020 report

About IMAP  https://imap.asn.au
The Institute of Managed Account Professionals (IMAP) is the only industry body for advisers, managers, providers and other businesses actively involved in offering or supporting Managed Accounts and was founded in 2003.

IMAP provides its subscribers, readers and supporters with:

• Access to information on the latest developments in managed account services
• Education, and training appropriate to professionals at all levels
• Representation as the voice of the managed account industry to represent its interests to regulators
• Networking opportunities for advisers and licensees interested or involved in managed accounts

About Milliman https://au.milliman.com/en/

Milliman is a global actuarial firm and among the world’s largest providers of independent actuarial and related products and services. 

In Australia, Milliman specialises in integrated retirement solutions—providing data analytics, financial modelling software and financial risk management services.

Founded in 1947 Milliman is a global firm of more than 3,800 employees operating from 60 offices across the Americas, Europe, Africa, Asia, Australia and the Middle East.

For further information about Milliman’s own SmartShield™ Managed Account solutions are available now. Find out more at https://advice.milliman.com/en/

© 2021 Reproduction Rights: This data is Copyright Institute of Managed Account Professionals Ltd (IMAP).

Use of this data in publications is subject to written permission from IMAP