Managed accounts product regos drive momentum: APIR

Managed accounts have led the pack in financial product registrations for yet another quarter, continuing the “solid start” recorded for the 2024-25 financial year, according to APIR Systems.

Just in the December quarter, there were 25 new managed accounts product registrations which topped the rolling five-year average for the period by 66 per cent.

The data also indicated that the number of active separately managed account (SMA) products registered had doubled within the last three years.

“In total there was 197 financial products registered in the 2024 December quarter, which is in line with the five-year rolling average for that period. This indicates a strong and consistent trend of new product issuance by the industry,” APIR chief executive, Chris Donohoe, said. 

“The data builds on the solid start to the 2024-25 financial year, with strong registrations also seen in the September quarter.

“While overall registrations for the December quarter are in line with the five-year rolling average, it is again managed accounts which continue to see exponential growth, a trend that has seen the number of active products double over the last three years.

“This growth in SMA products demonstrates the continued evolution of the managed accounts and how the industry is leveraging off the significant benefits of the APIR coding regime.

The only figure to trounce its rolling five-year average was the number of terminations, which for the December quarter was up by 20 per cent. Donohoe attributed this instance to several “joint data quality projects” that are underway to clean through customers’ legacy products and data.

“We’ve been working closely with our customer base to streamline their product offerings and, by being proactive, we keep our data relevant,” he said.

“Another key highlight from the December quarter was seven new participants registered to use the APIR coding regime during the period, in line with the quarterly average.

“APIR Systems’ strategy is to stay ahead of the curve in relation to industry developments. We’re keeping a keen eye on how global and domestic geopolitical factors, coupled with advancements in artificial intelligence, shape product development.”