Managed accounts FUM stands at $232.7b

Financial adviser support for managed accounts have seen total funds under management (FUM) rise to $232.77 billion as at 31 December, last year, according to the latest Institute of Managed Accounts Professionals (IMAP) Milliman census.

The census analysis said this represented a 23.2% annual increase over the 31 December, 2023, figure of $188.85 billion.

Commenting on the census, IMAP chair, Toby Potter said separately managed accounts (SMAs) retained the largest share of the market at 64%, with managed discretionary accounts (MDAs) steady at 25% of managed account FUM.

He noted that the eight organisations the leading 8 organisations managing $10 bn plus in FUM reported 6 months ago have held their position, but 3 organisations are closing in on this milestone.

Milliman Australian practice leader, Victor Huang noted that investment markets had recorded strong growth in the latter half of 2024 with a 6.9% increase in the value of the ASX/S&P 200 Accumulation Index, giving an annual growth rate of 11.1% in the 2024 calendar year.

The FUM Census collected data from 48 large and smaller organisations with varied offerings.

Potter said this showcased a healthy competitive market with a broad range of offerings to meet differing needs from both client investors and advisers.