Victor Huang
In the 6 months to 30 June 2025 balance date, Funds Under Management (FUM) in Managed Accounts increased to $256.24 bn, with reported net inflows of $16.79 bn
This is a $50.66 bn or 24.6% annual increase on 30 June 2024 figure of $205.58 bn
Toby Potter – Chair of IMAP said, “The net inflows in the 6 months to 30 June 2025 were slightly higher this period, which is a strong signal that advisers are finding more clients, whose investment goals and service needs suit the appropriate use of managed accounts.
The managed account market is now in the maturity phase, ”
“Strong investment market despite the challenges of geopolitical concerns has been a feature of 2025 to date, and it is encouraging to see ‘well advised’ clients adhering to their planned strategies.” says Potter
“Looking at the types of managed accounts, SMA’s market share increased slightly with 66%, managed discretionary accounts (MDAs) steady at 23.5% of managed account FUM. The industry leader board is unchanged with 8 organisations managing $10+ bn FUM,.“
Victor Huang, Milliman’s Practice Leader, Australia advised that “The investment markets continued to show strong growth in the first half of calendar 2025 with a 6.4% increase in the value of the ASX / S&P 200 Accumulation Index, giving an increased annual growth rate of 13.3% for the year June 2024 to June 2025.
This first half of 2025 saw markets perform well, despite volatility introduced by the tariff trade wars related to USA, and continued conflicts in Ukraine, and the Middle East. Positives have been the invigoration of Europe, UK, Australasian, and Canada trade links, stronger commodities and AI technology growth being key themes.”