Fund supermarkets in Australia 2007: Industry Research Report

Fund supermarkets in Australia 2007

Published Date: October 2007

Published By: Datamonitor

Page Count: 39

Order Code: R313-26602

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Overview: Catalyst; Summary
EXECUTIVE SUMMARY: The Australian managed fund market is the fourth largest in the world; Household funds are set to increase between 2007-2011; The new reforms will see more money enter superannuation; Competition between Australian fund supermarkets is intense; The future of supermarkets is bright
TABLE OF CONTENTS
TABLE OF TABLES
DISTRIBUTION DYNAMICS: The Australian managed fund market is the fourth largest in the world; Market Size; Households accounted for 42% of the Australian investment (non-superannuation) fund market in 2006; Australia is the fourth largest market in the world and the biggest in Asia Pacific for managed funds; Superannuation funds account for over half the Australian managed fund market; Demand for managed funds is increasing; The major local banks hold over half the total retail managed funds in Australia; Fund supermarkets have a number of advantages; Australia's biggest banks also dominate the fund supermarket space; St George and BT/ Westpac recorded the highest annual growth of retail fund inflows; Macquarie received the largest share of fund net flows for the year-ended June 2007; Customer Characteristics; The average Australian fund supermarket customer is middle-aged and investing for retirement; Over 50% of retail managed fund net flow is into superannuation; More Australians own superannuation then before
DISTRIBUTION FORECASTS: Household funds are set to increase to USD131bn between 2007-2011
REGULATORY CLIMATE: The new reforms will see more money enter superannuation; Australians have benefited from the recent superannuation changes; Individuals aged 60 and over can access their superannuation benefit tax-free; Limitations on concessionally taxed superannuation contributions have changed; Post- tax superannuation contributions are limited to AUD150,000 per annum; The transitional AUD1 million contribution limit served to boost fund inflows
DISTRIBUTOR PROFILES: Competition between Australian fund supermarkets is intense; Colonial First State has a relatively large fund offering; Colonial First State offers one of the widest ranges of funds; CFS's charging structure is low for the industry; CFS offers other core services; Advisers and clients have access to FirstNet services; The CFS website offers high functionality; BT is a leading white label Australian fund supermarket; BT offers a relatively small range of funds to direct investors; BT's charging structure is average for the industry; BT offers other core services; BT does not offer online application to all fund types; MLC is a leading 'manager of managers'; MLC offers a relatively small range of funds to investors; MLC's charging structure is standard for the industry; MLC offers other core services; MLC does not offer online application to its funds; AMP Financial Services is one of the biggest Australian fund supermarkets; AMP offers a large range of funds to investors; AMP's charging structure is high for the industry; AMP offers other core services; AMP does not offer online application to its funds; Fees and charges have been driven down by competition
DISTRIBUTION STRATEGIES: The future of supermarkets is bright; Fund selection is driven by client demand; Platform selection is based on strategic fit; Marketing strategies will depend on the target group; Fund supermarkets will continue to be an important distribution channel for managed funds into the future; The increasing popularity of self managed superannuation funds will require fund hosts and fund providers to track their developments; A reduction in the charging structure of managed funds will encourage participants to focus on new revenue streams; Volatility in the markets will result in an increased customer demand for structured and alternative investments
APPENDIX: Definitions; Brokerage Firms; Fund Supermarket; Household savings and investments; Investment Funds; Managed Funds; Retail Funds; Self Managed Superannuation Funds; Superannuation fund; Methodology; Further reading; Ask the analyst; Datamonitor consulting; Disclaimer
List of Tables: Table 1: Australian household savings and investments market, USDm, 2002-06; Table 2: Australian household savings and investments market, AUDm, 2002-06; Table 3: Total investment (non-superannuation) funds under management segmented by investor type; Table 4: Consolidated assets of managed funds segmented by institution type, December 2005-06; Table 5: Retail funds under management segmented by fund administrators, AUDm, June 2006-07; Table 6: Gross fund inflows segmented by fund administrators, AUDm, June 2006-07; Table 7: Retail fund net flow segmented by fund administrators, AUDm, June 2006-07; Table 8: Retail fund net flow segmented by investment type, AUDm, June 2006-07; Table 9: Forecast of the Australian household savings and investments market in USDm, 2007-2011; Table 10: Forecast of the Australian household savings and investments market in AUDm, 2007-2011; Table 11: Retail fund inflow segmented by market, AUDm, Q1 2007- Q2 2007; Table 12: Comparison of some leading Australian fund supermarkets; Table 13: CFS FirstChoice superannuation and investment funds fee structure; Table 14: BT superannuation and investment fund fee structure; Table 15: MLC superannuation and investment fund fee structure; Table 16: AMP superannuation and investment fund fee structure; Table 17: Management fees of MLC investment options have dropped since 2003

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