Growth continues despite bumpy markets

The retail managed funds industry continued on its upward growth path in the three months ending June 30, despite volatile international equity markets.

Net funds under management expanded by 2.7 per cent in the quarter, according to research house IPAC Securities.

Modest fund returns meant the growth was primarily from net funds flow, IPAC general manager David van Schaardenburg says.

Net funds flows into unit trusts and super funds were positive at $355 million and $27 million respectively, contrasting with continuing outflows from insurance bonds (-$67 million) and group investment funds (-$18 million).