Insignia Financial’s FUMA Up 0.4% to $342B with $1.7B MLC Expand Inflows

Steady Growth Despite Mixed Flows

Insignia Financial has reported a modest increase in its Funds Under Management and Administration (FUMA), rising 0.4% to $342 billion as at 31 December 2025. This growth was underpinned by positive market movements and robust net inflows into the company’s Wrap platform and multi-asset investment solutions, offsetting ongoing challenges in its Master Trust segment.

Chief Executive Scott Hartley highlighted the company’s strategic focus on delivering its 2030 Vision, noting that the quarter’s results reflect momentum across key business areas. The Wrap platform, a core offering for personal investment accounts, saw net inflows of $1.5 billion, boosted by a $1.7 billion surge into the MLC Expand suite of advised products. This represents a significant 200% increase in flows compared to the same quarter last year, signalling strong adviser and client adoption.

Master Trust Faces Headwinds Amid Product Migration

Conversely, the Master Trust segment experienced a 1.2% decline in funds under administration, falling to $137.1 billion. This was largely driven by an internal migration of $1.9 billion of funds from the Master Trust to the Wrap platform, alongside net outflows of $758 million. While the Workplace and Direct channels within Master Trust attracted positive inflows, the Advised channel continued to see net outflows, albeit with some improvement in member retention compared to the prior year.

To address these challenges, Insignia Financial has launched a refreshed MLC brand campaign and upgraded the MLC Super Fund’s direct-to-consumer platform. Early feedback has been encouraging, and the company is investing in adviser service enhancements and product simplification to improve engagement and net flows in the Master Trust’s personal channel.

Asset Management Sees Mixed Results

The Asset Management division reported a slight decrease in funds under management, down 0.1% to $94.5 billion. This was due to net outflows of $819 million, primarily from institutional clients rebalancing their portfolios in the Direct Capabilities segment, partially offset by positive market gains and strong inflows of $779 million into multi-asset funds. Notably, MLC’s lower-cost Multi Series and Index Plus funds, along with Managed Accounts, continued to gain traction among advisers and investors.

Acquisition Progress and Outlook

On the corporate front, Insignia Financial is advancing preparations for its proposed acquisition by CC Capital. Regulatory engagement with APRA and FIRB has been positive, with expectations to resolve conditions precedent in time for a shareholder vote in the first half of 2026. The company is finalising the Scheme Booklet and Independent Expert’s Report for ASIC review, signalling a key milestone in the transaction process.

Looking ahead, Insignia Financial remains committed to driving growth through strategic initiatives, product innovation, and enhanced customer experience as it pursues its ambition to become Australia’s leading diversified wealth manager by 2030.