Overall masterfund business jumped 14.7 per cent or $60.4 billion during 2012 to reach $471.7 billion, according to latest Plan For Life data.
More than one third of that came in the December quarter as underlying investment markets continued to recover, Plan For Life stated.
The data represented a 6.6 per cent improvement in year-on-year terms, up from $111.9 billion in 2011 to $119.3 billion in 2012. However, outflows also rose, increasing 5.3 per cent to $105.7 billion.
There was no major shift in market share among the major providers since all saw solid growth. BT Financial Group retained the largest share, growing 13 per cent to $96.1 billion in FUM.
The biggest growth proportionally was AMP, which increased its FUM by 23.1 per cent to squeeze past NAB/MLC into second place with $84.6 billion. NAB/MLC still grew its FUM by 12.6 per cent to reach $82.7 billion.
CBA/CFS remained the fourth largest platform pool, growing 17.5 per cent to $67.9 billion. Of the other providers, OnePath (up 7.6 per cent to $35.7 billion), Macquarie (up 12.3 per cent to $27.2 billion) and IOOF (up 18.2 per cent to $24.8 billion) also saw solid growth.
By market segment, wraps grew most significantly, up 18.1 per cent to $167.3 billion with net inflows of $9.3 billion. From an administrator point of view, BT accounts for close to half of the market with $75.9 billion.
Platform FUM rose 13.5 per cent to $232.6 billion but net flows were just $0.9 billion, with outflows almost matching inflows.
Master trusts grew 15.2 per cent in FUM to $71.8 billion with net flows of $3.5 billion.
