The Institute of Managed Account Professionals Ltd (IMAP), in collaboration with Milliman, has released the latest data from its bi-annual FUM Managed Account Census series. Data shows managed accounts grew by $9.26 billion in the first six months of 2019, with net inflows doubling.
As of June 30, 2019, funds under management (FUM) in managed accounts totaled $71.383 billion, an increase of $9.263 billion from the December 31, 2018 total FUM of $62.12 billion .
Net inflows between December 31, 2018 and June 30, 2019 doubled from the previous six months to $4.43 billion, an increase of 7 percent over the total FUM.
“The FUM Census results suggest that investors work closely with and trust their financial advisors, as evidenced by the steady influx of new funds into managed account arrangements,” said Toby Potter, president of IMAP.
Victor Huang, head of capital markets at Milliman – Australia, noted that the main characteristics of investment markets in the first half of 2019 were improved confidence and volatility.
“The value of the ASX/S&P 200 Accumulation Index increased by 19.73 percent over the six-month period, compared to a decline of 6.83 percent over the previous six months,” he said. he declared.
While the MDA category remains the largest and continues to grow, platform-based MDAs are growing at a faster rate and approaching total MDAs.
Forty-three companies participated in the latest FUM census of managed accounts.
“This census provides a good and representative picture of the managed account market,” Potter said.
“Participants include very large platforms, banks and MDA providers, as well as individual licensees who largely operate their service in-house. »
