Cameron Garrett

Strong interest from the institutional and IFA market has seen Macquarie’s funds on platform grow 24 per cent to reach $72.2 billion in the year to 31 March, 2017.

The robust growth reflects the successful migration of ANZ Oasis wrap super and investment assets onto Macquarie’s platforms, and strong inflows from the IFA market.

Cameron Garrett, Head of Wealth Product and Technology for Macquarie Wealth Management said the result was testament to the quality of adviser and client offerings on the Macquarie Wrap and Vision platforms.

“Our focus is on supporting advisers with flexible products to suit a wide range of client needs, greater investment choices and innovative functionality to make managing their client’s investments more efficient,” he said.

“We’re continually investing in and strengthening our proposition to ensure we remain at the forefront of the market, and this approach has led to Macquarie Wrap being recognised as one of the most highly regarded platforms in the industry.

“We’re pleased the strong growth of Macquarie’s funds on platform is also set to continue, with a further $7 billion in assets set to transition onto the platform in the coming weeks.”

In the past year, Macquarie’s platform investment menu has expanded to include an additional 63 managed funds and 29 Separately Managed Accounts (SMA) models for advisers and their clients to choose from. Macquarie Wrap now offers 75 SMA models from 18 investment managers.

“The strong growth we’ve seen delivers further scale to our platform offering, and we’re looking forward to continuing to expand our investment menu, functionality and digital experience for the more than 7,000 advisers we work with, and their clients,” Mr Garrett said.

The continued growth in platform volumes, lending and deposits, as well as a gain on sale of Macquarie Life’s risk insurance business, were factors which contributed to last week’s announcement that Macquarie’s Banking and Financial Services group, part of Macquarie Group Limited, delivered an increased profit for the year to 31 March 2017.

The post Strong growth sees Macquarie’s funds on platform top $72 billion appeared first on AdviserVoice.