On the block BT bullish about Panorama growth

Mike Taylor

Managing Editor and Publisher

20 April 2022

Amid confirmation that three bidders, including a major industry superannuation fund are in the running to pick up BT Financial Group, the company has spruiked the continuing improving performance of Panorama platform over the March quarter.

In a quarterly update issued today, BTFG claimed number one spot for Panorama in terms of market share with total funds under advice (FUA) of $155.18 billion and market share of 18.3% and a 57% increase in FUA with respect to managed accounts

It said managed accounts FUA had increased to $10.9 billion, with ESG portfolios being a key area of growth and interest, recording a 130% increase in FUA over the year.

“Following the successful launch of Lonsec’s diversified suite of sustainable managed portfolios in November 2021, BT expects to add a further 7 ESG-focused managed portfolios to the BT Panorama platform by the end of the June quarter, taking the total to 12,” the company said in an announcement. “This will be complemented by an anticipated extension of the existing suites managed by BlackRock and Russell Investments.”

It said demand for managed accounts was also being driven by advice practices that had used BT Wrap primarily as their main platform and were moving their clients’ funds across to managed accounts on the BT Panorama platform.

“$1.3bn of managed accounts FUA in the past 12 months has come from clients who previously held accounts on BT Wrap,” the statement said.

“More advisers are using managed accounts too, with a significant increase compared to corresponding period (up from 15 to 418 advisers). This upward trend is expected to continue.”