Commonwealth Bank of Australia (CBA) said its funds under management (FUM) and funds under administration (FUA) slipped in the December quarter due to falling stocks and an outflow of short-term cash mandates.
The nation's second-biggest bank by value said FUM stood at $128.59 billion at the end of the December quarter, down 11.9 per cent from the September quarter.
Australian equities FUM stood at $16.72 billion at the end of the December quarter, down 18.6 per cent from the September quarter.
Property and alternative investments FUM stood at $25.37 billion at the end of the December quarter, down 6.6 per cent from the September quarter.
The global financial crisis intensified in 2008's final three months, prompting the British Government to rescue its ailing banks with taxpayer money, while Australian investors dealt with the failure of ABC Learning Centres and Allco Finance Group.
CBA's FUA at the end of the December quarter was $164.27 billion, down 11 per cent from the September quarter.
In particular, FUA of CBA-owned platforms FirstChoice and Avanteos slid 10.9 per cent and 9.6 per cent respectively in the December quarter.
However, CBA said both platforms achieved positive net flows in the period.
CBA's life and general insurance businesses in the wealth management division attracted strong new business volumes, which boosted in-force premiums by 4.8 per cent to $1.37 billion for the December quarter.
