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Macquarie IM the nation's largest manager

Macquarie Investment Management has knocked off AMP Capital as the largest Australian-owned fund manager according to asset size, new Rainmaker data reveals.

AMP Capital suffered a $40 billion drop in funds under management in the year to September 2020, ending the period with $107.1 billion.

This opened the top spot for Macquarie Investment Management, which had $125.7 billion in assets, Rainmaker's quarterly Institutional Roundup report shows.

IFM Investors ($103.6bn) finished in the third spot, followed by Challenger ($88.9bn), QIC ($72.5bn), Victorian Funds Management Corporation ($64bn) and Pinnacle Investment Management ($61.7bn).

Macquarie manages the largest amount of domestic investments, taking up over half of its portfolio at $86.2 billion. First Sentier Investors ($85.3bn) comes second in terms of locally managed assets, followed by IFM ($80.3bn).

Overall, the exchange-traded products (ETP) segment climbed 27.2% year on year, while listed investment companies (LIC) contracted 2.2% year on year.

Indexed investments surged above $500 billion after falling under this threshold in the previous two quarters.

Accounting for foreign companies, State Street Global Advisors is the largest global fund manager in Australia with $174.9 billion in assets. Vanguard, which had $150.7 billion, came in second despite experiencing a $10.3 billion outflow. Macquarie placed third, followed by AMP Capital.

"Australia's total FUM market, including overseas sourced and sub-advisory, amounts to $4.3 trillion," the report read.

Australian-sourced FUM reached $2.7 trillion at September end.

Read more: Macquarie Investment ManagementRainmakerIFMChallengerFirst Sentier InvestorsInstitutional RoundupPinnacle Investment ManagementState Street Global AdvisorsVanguard
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