20 March 2006
Macquarie Wrap Solutions recorded the highest level of funds under administration growth again in the December quarter, making the product number one for inflows across the industry for the final six months of the year.
According to the latest Standard & Poor's market share report, Macquarie Wrap had $1.1 billion in inflows for funds under administration in the quarter to December 31, 2005, which was 0.3 billion ahead of the nearest competitor.
The report stated that "Macquarie's results significantly outperformed the results of its competitors".
Macquarie Wrap Solutions also recorded the highest level of inflows in the September quarter of 2005.
The Head of Macquarie Adviser Services, Neil Roderick, said he was pleased by the result which showed the Macquarie Wrap Solutions' team were continually improving the service to advisers.
"We are delighted by this show of faith from our existing clients who have increased their support for Macquarie Wrap Solutions during the past 12 months," Mr Roderick said.
"We believe that, had our full year result of $4.1 billion in net fund flows for 2005 been included in the report, we would have had the highest inflows for the year.
"This is a testament to the hard work of the Wrap team, who are continually seeking feedback from advisers as to how we can continue to provide the highest levels of service and tailor the platform to their changing needs."
Macquarie Adviser Services Division Director, Giulio Russo, said the Macquarie Wrap Solutions team had benefited from the ongoing support from advisers.
"This result demonstrates that we have been listening to advisers and taking their suggestions on board," Mr Russo said.
"To 31 December 2005, Macquarie Wrap had $18.4 billion in funds under administration.
"Our growth has been generated by a combination of new accounts and increasing levels of support from our existing adviser base."
For further information please telephone:
Macquarie Financial Services Group
Tel: (02) 8232 3835
Mobile: 0409 305 000