State Street Global Investors (SSGA) was the number one manager in the discrete portfolio market in the March quarter, according to Morningstar.
Morningstar said SSGA grew its total assets under management (TAUM) by 5.7 per cent in the March quarter, overtaking Macquarie Bank for the first time in three months.
The firm now has $45 billion in TAUM, garnering 10.4 per cent of market share for the quarter.
Of the top 10 managers by TAUM, all but BlackRock, IOOF and Aberdeen Asset Management ranked in the top 10 at the same time last year, the Morningstar report said.
The top 10 managers now include SSGA, Macquarie, Vanguard, Commonwealth/Colonial First State and bond manager PIMCO.
These managers account for 56.1 per cent of the discrete portfolio market, compared to 57.7 per cent in December 2009.
Overall, there was only slight growth for discrete mandates in the quarter. Discrete mandates only grew by 1.5 per cent to reach $440.5 billion in the quarter.
