Inflows into the lump sum sub-market posted a fall of 2.5% over the past year, with mixed results amongst leading companies. NobleOak (22.7%), ClearView (9.9%), TAL (1.2%) and Zurich (1.0%) posted positive growth, offset by Resolution (-32.7%) and AIA (-5.8%).
Much of the Resolution drop relates to the AMP Super mandate, which transitioned to TAL during the quarter. Part of which was previously classified by Resolution as Individual Risk business but is now included by TAL under group risk.
Risk income inflows also fell, albeit by less than the lump sum market, down 1.0% over the 2024 financial year. Among the better performers in percentage growth terms were NobleOak (22.4%), ClearView (10.6%) and MLC (1.1%).
Overall group risk premium Inflows experienced a 1.7% rise over the past year, with Zurich reporting the highest growth rate of 29.8% after taking over the Brighter Super insurance mandate from TAL.
MetLife followed with the second highest growth rate (up 19.9%) after taking over the UniSuper mandate from TAL.
Despite the loss of two mandates, TAL achieved growth of 2.3%, which includes the transition of the AMP super mandate from Resolution.
It should be noted that individual company growth can be significantly impacted by super fund insurance mandate movements.
Please note that all figures above are reflective of the time of publication, however they may be subject to future revisions.
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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.
