Macquarie Wrap Solutions achieves $16 bn

28 September 2005

Macquarie Wrap Solutions has credited strong support from existing users and positive investment markets for reaching $16bn funds under administration during September, continuing its strong growth since June this year.

Macquarie Adviser Services Head of Wrap Sales and Training, Giulio Russo, said Macquarie Wrap Solutions had enjoyed one of it's strongest growth periods with funds under administration growing from $15bn to more than $16bn in just two months.

He said the achievement represented "sensational growth" for the business helping it to cement its position as one of the fastest growing platforms in the Australian market.

Mr Russo said other factors, including relatively low interest rates and confidence from investors following the abolition of the tax surcharge, had also assisted Macquarie Wrap Solutions' growth.

"Our main objective is to remain competitive in the marketplace and this growth is significant both for new business opportunities and existing advisers," Mr Russo said.

Mr Russo said Macquarie's commitment to providing advisers with the best possible service was reflected in the 2005 ASSIRT Service Awards in which Macquarie was voted Best Fund Manager for the third consecutive year and second in the Best Master Trust/Wrap category.

"We recognise that the marketplace is extremely competitive and there is no room for complacency in the provision of platform services in Australia," Mr Russo said.

"We will continue talking to advisers to find out where we can further improve our service to them going forward."

Mr Russo said Macquarie Wrap Solutions had recorded consistently strong growth over the last three years.

"The market-leading growth of Macquarie Wrap Solutions, which has averaged $3bn growth per annum over the last four years, can be attributed to our culture of client service and operational efficiency," he said.

"We welcome feedback from advisers through ASSIRT and our own internal survey of users ; we will keep responding to their suggestions on how we can improve our service to give advisers the best quality product on the market."

"We are focussed on meeting advisers' priorities and designing systems around their needs and requirements to help them run their businesses more efficiently."

For further information, please telephone:

Giulio Russo
Head of Wrap Sales and Training
Tel: (02) 8232 8237

Belinda Lawton
Public Relations
Macquarie Financial Services Group
Tel: (02) 8232 3835
Mobile: 0409 305 000