Navigator is the fastest growing major discretionary master fund, increasing its market share of funds under administration by five per cent in the December 2001 quarter.
Navigator is the fastest growing major discretionary master fund, increasing its market share of funds under administration by five per cent in the December 2001 quarter.
Navigator’s market share is now 10.3 per cent, up from 9.8 per cent, in a period when the market share held by top 10 players declined from 90.3 per cent to 89.95 per cent1.
Navigator had net inflows in funds under administration of A$317.6 million for the December quarter: this represents growth in funds under administration of 12.3 per cent - the highest of any of the top 10 discretionary master funds by size.
“With a consistent increase in growth month after month, it is obvious that Navigator is fast becoming one the most popular investment platforms on the market,” said Marc Mengler, managing director of Navigator.
“It’s important to highlight that following the September 11 market fall this is an excellent result. It shows how the industry and our advisers have matured since the 87 crash.”
The discretionary master fund market has grown by 9.3 per cent over the quarter to A$78.5 billion. Master funds are continuing to capture a growing share of flows into the industry.
“People are looking for a way of investing that enables them to have greater control. Navigator allows you to plan, choose, manage and track your investments.
“Also our feedback is that financial planners find Navigator helps them keep doing what they do best, advising clients on their wealth creation strategies, rather than worrying about complex administration. This is all managed over the internet by the Navigator system.
“Investors are looking for a better way of investing, one that is flexible, provides clear reports and is easy to use. Navigator provides that sort of platform, and is growing accordingly,” said Mr Mengler.
1Assirt Market Share Report – December Quarter 2001
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Simon Morgan, Group General Manager
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Disclaimer
The information in this release is provided by Navigator as a guide only and without assuming any duty of care or making any warranty as to its accuracy. It does not constitute investment advice or recommendation of any fund manager or any investment.
Note to editors:
- Norwich Union Australia is a group of three specialist financial services companies; Navigator, Norwich Union Life and Portfolio Partners. Through these companies we provide products and services in the areas of wealth creation, wealth management and wealth protection for more than 300,000 customers throughout Australia.
- Globally, Norwich Union Australia is part of CGNU plc, the world’s sixth largest insurance group, the largest insurer in the UK and one of the top five life companies in Europe. CGNU was formed in May 2000 through the global merger of CGU plc and Norwich Union plc.
- CGNU’s principal business activities are long-term savings, funds management and general insurance. It has a market capitalisation of approximately A$50.2 billion at 07/02/02, worldwide premium and investment sales of more than A$70 billion from ongoing business and more than A$556 billion in assets under management. The group has 62,000 employees and more than 15 million customers.
- Norwich Union Australia has a sister company, CGU Insurance Ltd, a top 5 general insurance business, which operates independently in Australia.