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The managed accounts sector had $257 billion in funds under advice as at end December 2024, according to the Rainmaker Information Wholesale Advantage Report.
The 24.5% growth equated to an increase of $50.7 billion in2024, accounting for 28.5% of the overall platforms market growth.
The platforms market grew by 18.3% in 2024, with an increase of $178 billion in funds under advice.
The total platforms market identified in the report includes retail unit trusts, self-managed super funds, exchange traded funds (ETFs),listed investment companies (LICs) and mFunds.
Managed accounts have outgrown the platforms market in five of the last six years, with a five-year growth of 275%.
The wider platforms market has grown by 56% in that same time.
Managed accounts growth in Q4 2024 was 4.7%.
ETFs and investment wraps also experienced significant growth in 2024, with 37.3% and 25.7% growth respectively.
ETFs are the only market segment to match, and outgrow, the managed accounts sector, with 296% growth in funds under advice since December2019.
ETFs are often underlying investments in model portfolios that sit on managed accounts as investment offerings, highlighting that some of their growth is correlated.
“A new model portfolio dataset has recently been launched in the Rainmaker MarketPro terminal,” said Chris Page, managing director at Rainmaker Information.
“The underlying investments are a part of this offering, showcasing examples of when an ETF sits on a model portfolio, as well as it’s allocation in the model, assisting fund managers with their competitive insights and market intelligence.”
The investment wraps market outpaced managed accounts for the second time in the past six calendar years, with growth since December 2019sitting at 94.7%.
Meanwhile SMSF funds under advice grew 6.0%, LICs grew 1.1%,mFunds grew 1.8%, term deposits grew 5.9% and personal super grew 15.5% in the2024 calendar year.
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Total risk market inflows were down a marginal 0.6% over the year to June 2024, decreasing from $18.3 billion to $18.2 billion.
Dual access ETPs, which are transacted both on stock exchanges and off-market through funds managers, can cost four times as much as the rest of the Australian ETP market.
