Macquarie has won $87 billion in cash and fixed interest mandates, an increase of 45.3 per cent from the previous quarter, according to Morningstar's June quarter Market Share Report.
This increase in mandate wins represents 28.1 per cent of the industry increase, with the firm gaining an extra 0.8 per cent in market share and a reported total of assets under management of $77.3 billion as at June 2009.
State Street Global Advisors (SSgA) grabbed first position in overall discrete mandate wins, overtaking Commonwealth/Colonial with an increase of $3.6 billion (12.5 per cent) since the last quarter.
Several SSgA clients moved from unit trusts to discrete portfolios during the quarter, according to the report.
The industry super fund-backed group Industry Funds Management also scored a jump in mandates, garnering $6.4 billion in the June quarter from $4.2 billion in the prior quarter.
These mandates include an AustralianSuper mandate worth $3.8 billion, $30 million from Hostplus and $440 million from the IFM Debt Investment Group.
Overall, the report found that discrete mandates grew from $30.9 billion in the previous quarter to $344.3 billion in the June quarter.
This mandate growth was still down by 11.6 per cent over the year, with 49 of 66 managers reporting gains. It was an improvement on the previous quarter, when only 26 managers grew their mandate business.
