Registrations of financial products in the March quarter of 2024 finished in line with the five-year rolling average for the same period, at 184 product registrations, according to APIR chief executive, Chris Donohoe.
APIR identifies, codes and manages reference data for unlisted financial products. In its 30 years of operation, it has identified over 30,000 individual financial products.
Key highlights from the March quarter were:
- Registrations of managed investment products were up almost 15 per cent on the quarterly average over the past five years, at 156
- Managed accounts product registrations were up 39 per cent on the rolling five-year average for the period, at 18
- There were no registration of superannuation products during the period
- Terminations for the March 2024 quarter were down 75 per cent on the rolling five-year average for the period at 51, and remain significantly down year to date from last year.
“Our recent observations about the strength in new registrations of traditional managed fund products continues to play out, with 531 registrations year to date which is 15 per cent up on the five year rolling average,” Mr Donohoe says.
“Additionally, we saw a sharp jump in the number of wholesale funds in the quarter, making up 55 per cent of new registrations. Also of interest was that 43 fund of fund products were registered, which is far and away a record for any quarter.
Mr Donohoe noted that after several years of extremely high levels of rationalisation within superannuation products, particularly investment options, terminations have reduced significantly with only 114 having been archived in the year to date.
“Product manufacturers have proven to be incredibly resilient over the past four-to-five years despite the pandemic, slower economic growth and higher interest rate environment. Recent geo-political events will also challenge global markets and present opportunities to the industry,” Mr Donohoe says.
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