The Institute of Managed Account Professionals Ltd (IMAP) has released the latest data in its Managed Accounts FUM Census. As at 31 December 2016, FUM in Managed Accounts stood at $39.2bn. This balance represents an increase of $8.3bn on the 30 June 2016 FUM total of $30.1bn.
The 31 December 2017 total was made up:
Commenting on the release, Toby Potter, Chair of IMAP, said: “This new total shows just how significant managed accounts in their various forms have become. They now amount to the equivalent of nearly 7% of the Platforms and Wraps total FUA of around $600m.”
Thirty five companies participated in the latest Managed Accounts FUM Census showing the range and substance of the providers and issuers.
“The providers range in size from the largest such as the major platforms and banks right down to single location MDA Providers who offer their service only to their own clients,” said Potter. “It’s a sign of a very dynamic market that such a varied array of organisations can offer quite unique services and business models.”
The increase in the measured FUM for managed accounts can be attributed to three primary sources – market movement in existing portfolios, additional participants compared to the June 2016 study and growth if the FUM for the providers who participated in both June and December 2016. New participants contribute $2.35bn in FUM. For the existing participants, based on market movement in the S&P ASX 200 of approximately 8%, around $2.5bn of the growth is likely the result of market movement. This means that the growth in FUM for existing participants is $2.5bn.
“There remain a number of significant providers who have not been able to provide their managed account FUM data. Consequently we know that the actual total will be greater than the number this survey has revealed,” said Potter. “This simply reinforces the increasing significance of this sector in the provision of personal advice.”
Toby Potter
Chair m: 0414 443 236
e: toby.potter@imap.asn.au
Jane McIlroy
National Marketing and Events Manager
m: 0411420180
e: jane.mcilroy@imap.asn.au