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

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.”

Positive Investment Market Tone

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:

Managed

Account Category

30 June 2021
($ billions)

Incr / Decr $

($ billions)  June 2020 to June 2021
(one year)

Incr / Decr
Percentage%
June 2020 to June 2021
(one year)

31 Dec 2020

($ billions)
6 month period

30 June 2020

($ billions)

SMA / MIS 

$51.09

$23.03

82%

$45.09

$28.06

MDA services

$48.01

$12.73

36%

$39.86

$35.28

Other services

$11.91

-$4.46

-27%[1]

$10.25

$16.37

Total   

$111.01

$31.30

39%

$95.20

$79.71

“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

 

Growth in Managed Accounts Funds under Management from 2015 to June 2021 ($ billions)

FUM Growth June 2021

Category Type of Managed Accounts Chart showing FUM growth ($ billions) June 2017 to June 2021

category type of managed frun growth June 2021

IMAP wishes to expressly thank all census contributors - a number of whom are listed below (by permission):

  Accordius

Lifespan Financial Planning

   

AMP

Lighthouse Capital

   

BT Panorama

Macquarie

   

Cameron Harrison Private

Mainstream Group

   

Colonial First State

Mason Stevens

   

DNR Capital

Marcus Today

   

 EC Pohl & Co 

MLC Asset Management

   

Elston

Netwealth

   

FiiG Securities

Praemium (incl. Powerwrap data)

   

Fortnum Private Wealth

Ralton Asset Management

   

HUB4 (incl Xplore Wealth data)

Sentinel Group

   

Implemented Portfolios

Watershed

   

IOOF

   WealthO2


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/

Contact Details

Milliman

IMAP

Victor Huang, Principal & Head of Investment Solutions Asia-Pacific

T: 02 8090 9100

M: 0433 383 580

E: This email address is being protected from spambots. You need JavaScript enabled to view it.

Toby Potter, Chair

M: 0414 443 236

E:  This email address is being protected from spambots. You need JavaScript enabled to view it.

Craig Dewhurst, IMAP Data Manager

T: 02 8003 5077

E: This email address is being protected from spambots. You need JavaScript enabled to view it.

© 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


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