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10 September 2025 by Adrian Suljanovic

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MLC tops retail FUM table

  •  
By Charlie Corbett
  •  
4 minute read

Australian retail funds under management grew by 3.5 per cent in the first quarter, with MLC leading the way.

Australian retail funds under management grew by 3.5 per cent or $17.3 billion in the first quarter of the year, according to Morningstar's latest market share report.

The growth was driven largely by soaring stock markets, which accounted for $9.6 billion, while the remaining $7.7 billion came in the form of net flows.

The growth rate is slower than the last quarter of 2006, which experienced growth in retail funds under management of 6.3 per cent, or $29 billion.

National Australia Bank's wealth management arm MLC retained top spot in the funds under management table with $66 billion invested and a 13.2 per cent market share.

 
 

Colonial First State came just below, followed by AMP Capital Investors, BT Financial and ING.

MLC's domination, however, is waning. Its market share has fallen from 20 per cent in 2004 to the current 13.2 per cent.

The only significant mover in the table was Perpetual, which climbed from 11th place to ninth on the back of a $2.6 billion increase in funds during quarter one.

It eased recently listed Platinum Asset Management out of the top 10.

The big winner over the year to March 2007 was Macquarie Bank.

Its retail funds under management leaped by 31.4 per cent, or $10.9 billion, to leave it in sixth place with a total of $45.6 billion invested.