The total masterfund market gained $14.5 billion or 3.5 per cent during last year to stand at $427.7 billion at 31 December 2010, according to the latest Plan for Life analysis.
The data indicated the masterfund market – which includes wraps, platforms and master trusts – experienced a rise of $10.2 billion in the December 2010 quarter alone.
Inflows of $100.1 billion were well up on the previous year’s result of $91.7 billion, although outflows also rose to $88.3 billion from the $73 billion recorded in the year to December 2009.
The analysis found all major companies apart from IOOF and Perpetual reported growth over the year.
The data indicated that wraps – with $149.9 billion in funds under management (FUM) – comprised 35 per cent of the total market, which was up slightly on the 34.6 per cent market share of a year ago.
Inflows of $46.6 billion comprised 46.6 per cent of the total market, while comparatively lower outflows of $39.8 billion gave wraps 58.1 per cent of net fund flows with $6.8 billion.
“BT Financial, National Australia/MLC and Macquarie are the leading players in this market. BT Financial in particular holds 21.8 per cent of FUM from a marketer view and 47.6 per cent from an administrator view,” the report said.
The data indicated that platforms comprised 50.1 per cent of the total market, with $214.2 billion in FUM, up 2.5 per cent over the year.
Inflows of $40.6 billion made up 40.6 per cent of all inflows, although significant outflows of $39.1 billion were also experienced.
“Four groups hold over $20 billion in platform FUM, led by National Australia/MLC ($48.5 billion) and Commonwealth/Colonial ($47.7 billion),” the report said.
The data found master trusts’ market share stood at 14.9 per cent this quarter with $63.6 billion in FUM, attracting only 12.8 per cent of total inflows with $12.8 billion over the year.
