IMAP announces that Managed Account FUM reaches $161.7 bn as at 30 June 2023

IMAP Census of Managed Account FUM in conjunction with Milliman shows that managed accounts FUM reached $161.7 bn as at 30 June 2023 due to an increase of $17.2 bn in 6 months with growth from both inflows and market gains.

IMAP (The Institute of Managed Account Professionals Ltd) in conjunction with Milliman has released the latest data for balance date 30 June 2023 in its 6 monthly Managed Accounts FUM Census long term series.

In the 6 months to 30 June 2023 balance date, Funds Under Management (FUM) in Managed Accounts increased 9.8% to $161.7 bn (compared to December 2022’s figure of $144.5 bn).

Toby Potter - Chair of IMAP said, “Strong inflows of over $11 bn were reported for the first 6 months of 2023.

These results will be welcomed by both the end clients and their financial advisers, as well as by the Investment committees, their asset advisers and investment managers all working to assist the clients work towards achieving their financial goals.”

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

The investment markets have recorded steady growth in the first half of 2023

Victor Huang, Milliman’s Practice Leader, Australia advised that ““The investment markets have recorded steady growth in the first half of 2023 with a 4.51% increase in the value of the ASX / S&P 200 Accumulation Index.

Volatility has trended downwards in the first half of 2023 for the US and Aussie markets, with Europe peaking sharply at the end of the first quarter before also declining. The uncertainty around inflation and growth may continue to fuel uncertainty for the remainder of the year” Huang adds.

Managed
Account
Category

30 June
2023
($ bn)

$bn Incr/Decr
Jun 2022
  - Jun 2023
(one year)

% Incr / Decr
Jun 2022
- Jun 2023
(one year)

31 Decem
2022
($ bn)

30 June
2022
($ bn)

SMA / MIS 

  $94.90

$24.34

34%

$80.61

$70.56

MDA services

* $50.88

$  0.24

0%

$50.07

$50.64

Other services

$15.96

$  1.35

9%

$13.85

$14.61

Total   

$161.74

$25.94

19.1%

$144.53

$135.80


The FUM results split between types of managed accounts is as follows: Managed Account Category 30 June 2023

“The market’s Platform providers’ successful use of SMAs as a vehicle to service the adviser/licensee market continues to drive FUM growth in this sector“, said Toby Potter.

“The FUM Census collected data from 48 organisations with participants ranging from the large platforms, and MDA service providers through to individual licensees, “adds Potter

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

 

Accordius

Implemented Portfolios

   

North (AMP)

Insignia Financial

   

BT Panorama

Lifespan Financial Planning

   

Cameron Harrison Private

Lighthouse Capital

   

Clime Asset Management

Macquarie

   

DASH

APEX Group

   

DNR Capital

Mason Stevens

   

EC Pohl & Co 

MLC Asset Management

   

Elston

Netwealth

   

FiiG Securities

Park Street Group

   

Fortnum Private Wealth

Praemium
   
HUB24 Shaw and 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:  This email address is being protected from spambots. You need JavaScript enabled to view it.

Victor Huang, Practice Leader, Milliman Australia
T: 02 8090 9100
M: 0433 383 580
E: This email address is being protected from spambots. You need JavaScript enabled to view it.

Contact Details

Milliman

IMAP

Victor Huang, Practice Leader, Australia

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.

© 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


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