The recovery of fund flows into retail managed funds has started to show signs of plateauing, according to figures from Plan for Life Actuaries and Researchers.
Inflows were up just 1.6 per cent during the December quarter to a total of $514.6 billion in funds under management (FUM).
But over the full year 2009 inflows were up 12.8 per cent, recovering much of the losses sustained during the crisis, Plan for Life said.
"All leading companies with the exception of BT, due to its takeover of St George, reported lower inflows year on year," the report said.
The combined Commonwealth Bank/Colonial First State had the highest level of inflows with an increase of 19.7 per cent to $69.3 billion in FUM.
National Australia Bank/MLC was still the largest fund manager in the retail sector with $78.3 billion in FUM, which represents a market share of 15.2 per cent.
The group's FUM was up 16.5 per cent compared to the year before.
The figures are based on funds and flows that are directly marketed by each group, and exclude badged products.
The picture in the wholesale fund market was not much different.
FUM increased by just 1.3 per cent from $252.8 billion to $256.2 billion over the December quarter.
Over the full year 2009, wholesale funds were up 14 per cent.
"They are fairly close to the level they were at three years ago at the end of 2006," the report said.
