mFunds crack $1 billion, PIMCO dominates

Five years after they launched, ASX mFunds have finally cracked $1 billion, with PIMCO's funds emerging as the most popular.

mFunds is the ASX's marketplace for unlisted managed funds, allowing investors and advisers to buy and sell units in managed fund via a broker on the mFund settlement service. It was launched in 2014.

Fixed income funds have proven to be the most popular offering on mFunds. They now represent $362 million in funds under management, growing 43% over the year.

Australian equities funds are the second-most popular asset class in mFunds ($258 million), followed by global equities ($225 million), property ($88 million, growing at 51% over the year) and $84 million in mixed asset classes.

The most transacted mFunds for September were PIMCO's income wholesale class (PMFO8), PIMCO's global bond fund wholesale class (PMFO3), Melbourne boutique SG Hiscock's ICE fund (SHF02) and Bennelong's ex-20 Aussie equities fund (BAE03).

In August, mFunds total assets came close to $1 billion but ended the month at $991 million. By September end, they had crossed the milestone, ASX monthly data shows.

mFunds has grown at 34% in the year to September. Fund managers listed 22 new funds during the period.

However, ASX's other listed investment products are much bigger.

Exchange traded products sat at almost $56 billion at September end, after crossing the $50 billion mark two months ago.

LICs have $48 billion, A-REITS have $149 billion while infrastructure funds have $88 billion.

Read more: PIMCOmFunds ASXSG Hiscock
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