Retail investment (non-super) growth outstripped employer superannuation and personal super funds under management and advice (FUM/A), according to DEXX&R.
DEXX&R’s latest Analysis Market Share Report based on retail and wholesale FUM/A found retail investment FUM/A increased 5.7 per cent ($10.7 billion) to $197.7 billion over the year to December 2016.
Macquarie recorded the top increase of 8.8 per cent to $51.1 billion, followed by Westpac (8.4 per cent to $42.8 billion), and Commonwealth Bank (six per cent to $33.1 billion).
Personal super recorded a 3.1 per cent increase of $6 billion, employer super a three per cent increase of $4.5 billion and retirement incomes a 3.2 per cent increase of $5.9 billion.
FUM/A held in retail and wholesale managed funds increased by 2.8 per cent to $1.16 trillion over the year to December 2016.
Within the five largest retail and wholesale managers, Westpac recorded the highest growth at 5.6 per cent to $139.7 billion, followed by AMP (5.2 per cent to $151.3 billion), NAB (3.4 per cent to $157.8 billion), and Commonwealth Bank (0.2 per cent to $142.2 billion).
The report also found over the same period, retirement income FUM/A increased by 3.2 per cent, or $5.8 billion, to $187.3 billion at December 2016.
Australia’s second-largest super fund has added thermal coal companies to its list of investment exclusions.
The fund has expanded its corporate superannuation solutions to partner with Australian businesses of all sizes.
The chief executive of Aware Super anticipates a significant shift in how ESG factors will influence portfolio values in the next six years, surpassing the changes witnessed in the past two decades.
In a recent statement, shadow assistant minister for home ownership and Liberal senator for NSW, Andrew Bragg, accused ‘big super’ of fabricating data attributed to the Reserve Bank of Australia to push their agenda.
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