Substantial growth reported in latest FUM Census

The Institute of Managed Account Professionals Ltd (IMAP) has released the latest data in its Managed Accounts FUM Census. As at 31 December 2016, FUM in Managed Accounts stood at $39.2bn. This balance represents an increase of $8.3bn on the 30 June 2016 FUM total of $30.1bn

The 31 December 2016 total was made up as follows:

Commenting on the release, Toby Potter Chair of IMAP said “This new total shows just how significant managed accounts in their various forms have become. They now amount to the equivalent of nearly 7% of the Platforms and Wraps total FUA of around $600bn.”   

Thirty five companies participated in the latest Managed Accounts FUM Census ranging in size from the largest (the major platforms and banks) to MDA providers who offer their services just to their own clients. “It’s a sign of a very dynamic market that such a varied array of organisations can offer quite unique services and business models” said Potter.

The increase in the measured FUM for managed accounts can be attributed to three primary sources

• market movement in existing portfolios;

• additional participants compared to the June 2016 study and growth in FUM for the providers who participated in both June and December 2016;

• new participants contributed $2.35bn in FUM

Market movement in the S&P ASX 200 accounted for $2.5bn of the growth with $2.5bn being new growth.

“There remain a number of managed account providers who have not yet provided their FUM data. Consequently we expect that the actual total will be greater than the number this survey has revealed” said Potter. “This simply reinforces the increasing significance of this sector in the provision of personal advice.”

Contact

Toby Potter, Chair, 0414 443 236 toby.potter@imap.asn.au

Jane McIlroy, National Marketing and Events Manager 0411420180 jane.mcilroy@imap.asn.au

Media

Chris Hocking        0418 603 694          chris@chstrategies.com.au