Total assets under custody (AUC) for Australian investors have hit $3 trillion, representing two times the total market value of the S&P/ASX200, according to the Australian Custodial Services Association (ACSA).
The custodial and administration sector grew by 5.3 per cent in the second half of 2016, compared to 1.4 per cent.
ACSA’s report found JP Morgan was the largest overall provider in the customer market for the second time in a row at $624.04 billion, followed by NAB ($513 billion), BNP Paribas ($472 billion), State Street ($397.04 billion), and Citigroup ($393 billion).
Ausmaq had the largest increase in AUC at 115.3 per cent, followed by State Street (45.3 per cent), Netwealth (20 per cent), and Citigroup (19.2 per cent).
ACSA said while the sector had overall positive growth, the on-shore bias remained strong as $2.14 trillion of total AUC comprised of Australian assets compared to $973 billion in non-Australian assets.
The $75 billion fund has gained exposure to decarbonisation solutions in its first listed equities impact investment.
The superannuation fund is expanding its investment exposure to industrial property through a $1 billion partnership with Barings, a global investment manager.
AustralianSuper has usurped the Future Fund as the biggest Australian asset owner, jumping from 43rd to 36th place globally, according to an annual study by the Thinking Ahead Institute.
IFM Investors, the global institutional asset manager owned by superannuation funds, has signed a memorandum of understanding with the UK government to invest £10 billion by 2027.
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