Global actuarial firm, Milliman, has announced its partnership with IMAP in delivering the next update of the Managed Account FUM Census.

The Managed Account FUM Census is a bi-annual study of the FUM invested through the main forms of managed accounts, including SMA, MDA and IDPS-like services. The last June 2017 survey showed over $47 billion was invested through these vehicles.

In making the announcement, Milliman (Australia) practice leader, Wade Matterson said: “Managed accounts are one of the key areas of product development for advisory firms, so by partnering with IMAP, it seemed natural for us to bring our deep market insights and rigorous methodology to the Managed Account FUM Census,” Matterson said.

IMAP chair, Toby Potter welcomed the announcement, saying he was delighted to have Milliman assist IMAP in developing the FUM Census.

As part of its involvement with the census, Milliman will assist IMAP develop deeper analysis of the underlying investment types, such as ASX-listed securities, ETFs and managed funds, while also identifying the product development opportunities that managed account providers and advisory firms are taking.

According to IMAP data manager, Craig Dewhurst, a new section has been added to the questionnaire that looks at asset types, which will enable IMAP to get an overall market view of the assets being invested in via managed accounts.

“We also are asking participants two new opinion questions,” he said. “These are: ‘What will be the key developments in managed accounts in 2018?’; and ‘What is the most useful new question(s) we should ask in future surveys to provide better market insights for all?’

“Responses to the IMAP Managed Account FUM Census are due back by late February. We will them begin our compilation and analysis of the results.”

For more information or to participate in the next census, contact Craig Dewhurst on (02) 8003 5077 or at