IMAP’s Census of Managed Account FUM reports over $10bn of inflows and improved markets to give a record total of $144.5bn as at 31 December 2022.
IMAP (The Institute of Managed Account Professionals Ltd) in conjunction with Milliman has released the latest data for balance date 31 December 2022 in its 6 monthly Managed Accounts FUM Census long term series.
In the 6 months to 31 December 2022 balance date, Funds Under Management (FUM) in Managed Accounts increased to again reach a new high of $144.5bn, up 9.8% when compared to December 2021’s figure of $131.65 bn.
Toby Potter - Chair of IMAP said, “Inflows of over $10bn in the past 6 months demonstrate that managed accounts are a core service for financial advisors to assist their clients target their goals, and the market volatility of the past 6 months has demonstrated this”
“A key advantage is that Investment Committees, asset consultants and investment portfolio providers are able to quickly effect strategies and tactics to minimise adverse effects from market fluctuations, and then provide tailored information for advisers to communicate proactively with clients.” said Potter. ”It is a much better outcome for advisers to provide explanations of decisions made in the clients’ interests, than to deal with a wave of questions from individuals.”
“A slowing in annual growth from previous levels of 20%-30% is attributed by advisers with whom we speak to the pressures that advice has been under over the past 12 months. Anecdotal evidence suggests that a significant share of new client business is being invested through managed account strategies.” said Potter.
The investment experience in 2022 has been a story in two parts.
Victor Huang, Milliman’s Practice Leader, Australia advised that “The investment experience in 2022 has been a story in two parts.
The positive sentiment in the investment markets in the second half of 2022 delivered a strengthened market with a 9.8% increase in the value of the ASX / S&P 200 Accumulation Index.
“These stronger markets have essentially regained the -9.9% fall in the prior 6 month period and demonstrate the value of adhering to your investment strategy”, said Huang.
The FUM results split between types of managed accounts is as follows:
|
Managed Account Category |
31 Dec 2022 |
Incr / Decr |
Incr / Decr |
30 June 2022 |
30 Dec 2021 |
|
SMA / MIS |
$80.61 |
$12.42 |
18% |
$70.56 |
$68.19 |
|
MDA services |
$50.07 |
- $ 2.69 |
-5% |
$50.64 |
$52.76 |
|
Other services |
$13.85 |
$ 3.15 |
29% |
$14.61 |
$10.70 |
|
Total |
$144.53 |
$12.88 |
9.8% |
$135.80 |
|
IMAP wishes to expressly thank all census contributors - a number of whom are listed below (by permission):
|
Accordius |
HUB24 |
|
AMP |
Implemented Portfolios |
|
BT Panorama |
Insignia Financial |
|
Cameron Harrison Private |
Lifespan Financial Planning |
|
Clime Asset Management |
Macquarie |
|
DASH |
APEX (Mainstream Group) |
|
DNR Capital |
Mason Stevens |
|
EC Pohl & Co |
MLC Asset Management |
|
Elston |
Netwealth |
|
FiiG Securities |
Park Street Group |
|
Fortnum Private Wealth |
Praemium |
| Shaw & Partners |
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://www.milliman.com/en
Milliman is among the world’s largest providers of actuarial, risk management, and related technology and data solutions. Our consulting and advanced analytics capabilities encompass healthcare, property and casualty insurance, life insurance and financial services, and employee benefits. With more than 4,600 employees and revenue of US$1.38 billion in 2021, the firm serves the full spectrum of business, financial, government, union, education, and nonprofit organizations. Founded in 1947, Milliman today has offices in principal cities worldwide, covering markets in North America, Latin America, Europe, Asia and the Pacific, the Middle East, and Africa. For further information about Milliman’s SmartShield™ Managed Account solutions visit https://advice.milliman.com/en/
Contact Details
Toby Potter, IMAP Chair
M: 0414 443 236
E:
Victor Huang, Practice Leader, Milliman Australia
T: 02 8090 9100
M: 0433 383 580
E:
Contact Details
|
Milliman |
IMAP |
|
Victor Huang, Practice Leader, Australia T: 02 8090 9100 M: 0433 383 580 |
Toby Potter, Chair M: 0414 443 236 Craig Dewhurst, IMAP Data Manager T: 02 8003 5077 |
© 2022 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
