Macquarie Bank has jumped ahead of Colonial First State (CFS) to take first place for Australian-sourced funds under management (FUM) in the latest InvestorSupermarket Market Share Report.
Macquarie reported total unconsolidated FUM at the end of June 2007 of $102.3 billion, a market share of 6.3 per cent.
It is the first time CFS has been displaced at the top of the table since InvestorSupermarket records began in December 2001.
The Millionaire Factory also reported the largest dollar increase for the quarter, adding $10.3 billion or 11.2 per cent.
CFS dropped to second position by unconsolidated FUM, with a 5.5 per cent increase in FUM to $101 billion, followed by AMP with a 3.1 per cent increase to $96.7 billion in FUM.
"A lot of work has gone in across the bank to our product offerings for both our institutional and retail clients to ensure we are meeting their specific investment needs," Macquarie Funds Management head of distribution Bruce Murphy said.
"Our product development focus is always on the needs of our clients and we appreciate their support."
Macquarie reported around $17.7 billion flowed into super and cash management trust self-managed super fund accounts in the three-month lead up to June 30 as a result of the changes to superannuation legislation.
Index manager Vanguard ranked third by dollar FUM growth, up $7.3 billion or 20.8 per cent to $42.6 billion.
This propelled Vanguard to 10th on the ladder from 15th at the end of the March quarter.
The sale of Deutsche Asset Management's Australian equities and fixed interest portfolios to Aberdeen Asset Management led it to report the largest drop in unconsolidated FUM, down $8.2 billion or 22.8 per cent.
CFS remained in top spot by FUM in Australian equities, with $30.9 billion.
Axa Australia maintained pole position in international equities with FUM of $44.6 billion, adding $4.1 billion or 10.2 per cent in the June quarter.
The retail market unconsolidated FUM totalled $438.9 billion, a rise of $24.8 billion or 6 per cent during the June 2007 quarter.
MLC Investment Management maintained its position as the largest retail manager with $57.8 billion of FUM, keeping it ahead of CFS with $56.5 billion.
AMP dropped from second to third after it reported a decrease of $4 billion or 7.5 per cent in retail FUM.
Total consolidated assets of managed funds institutions was $1.34 trillion at June 30, an increase of $85.4 billion or 6.8 per cent on the revised March quarter figure of $1.25 trillion.
This was the 17th consecutive quarter of positive growth.
For the 12 months to June 2007, the industry grew by 22.2 per cent or $242.2 billion compared to the 12 months to June 2006, when the industry grew by 25.9 per cent.
