Research by Dexx&R has shown funds under management across superannuation and wholesale trusts took a nosedive in January.
The Dexx&R Wholesale Pooled Funds Report found the 1000 funds it covers dipped 8 per cent to $321.7 billion funds under management (FUM) from $349.8 billion in December 2007.
Property FUM plummeted 12 per cent to $19.8 billion at January 31, which is a drop from $22.5 billion at December 31, 2007.
News of debt-laden Centro Property Group contributed to the decline in listed property investments and unlisted property trusts, Dexx&R managing director Mark Kachor said.
Overall, property FUM has declined 15.7 per cent from $23.5 billion in the 12 months from January 31, 2007.
Australian Shares FUM has bombed 10.2 per cent to $82.1 billion at January 31, 2008, from $91.4 billion at December 31, 2007.
International shares FUM has declined 8.8 per cent to $100.2 billion at January 31, 2008, compared to $109.8 billion at December 31, 2007.
"This reflects the downward moves in the market. The annualised returns have mostly been negative across virtually all the sectors. Returns are looking decidedly conservative," Kachor said.
The top performing property fund for the 12 month to January 31, 2008, was the Australian Unity Wholesale Property Income with a 6 per cent return, according to Dexx&R.
Tied in second place were the Australian Unity Wholesale Geared Property Income Fund and BT Wholesale Global Property Value Fund with a 4.1 per cent return.
The net cash flow across the 1000 funds Dexx&R monitors for the 12 months to January 2008 was $12.2 billion.
