Super and investment FUM/A tops $1T

Funds under management and advice with superannuation and retail funds surpassed the $1 trillion mark in the year to June 2014, research from DEXX&R reveals.

DEXX&R data found that funds held by retail and wholesale managed funds increased 12.2 per cent for the 12 months to 30 June, with NAB leading the way with an increase of $19.8 billion in FUM/A for the year.

The strong growth was attributed to "positive investment returns and increased inflows into the retirement incomes, superannuation and retail investment segments".

Of the individual sectors, retirement incomes accounted for the largest increase in FUM/A over the year, with an additional $18.5 billion coming into the funds.

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Among the top five retirement income fund managers, AMP's FUM/A had the biggest increase (19.2 per cent), with IOOF (17.1 per cent) and the Commonwealth Bank of Australia (CBA) (17 per cent) also recording significant growth in the area.

In the employer superannuation segment FUM/A increased by 12.7 per cent for the year to $125.4 billion, with NAB's Employer Super fund increasing by 18.3 per cent, with Mercer the next best performer with a 17.5 per cent rise in FUM/A.

DEXX&R found that seven per cent of employer super was now held in the MySuper option, while 33 per cent of FUM/A remained in default options, with other investment options including multi-sector, Australian shares and overseas invesments accounting for the remaining 60 per cent.

DEXX&R rated Westpac's 14.7 per cent increase in FUM/A for personal super as the best performer in the personal super sector, which grew by 9.9 per cent.

While in the non-super sector CBA again performed strongly increasing its FUM/A by 18.8 per cent for the year to $26.9 billion, while Macquarie recorded a 17.5 per increase to $31.2 billion.