Third-party distribution of long-term mutual fund assets totaled $7.86 trillion in the second quarter of 2013, up more than 23 percent from the second quarter of 2012, according to Access Data, a data management, analysis and reporting organization for the financial services industry.
Access Data is a Broadbridge Financial Solutions Company based in Lake Success, N.Y. The data released Monday was part of the second quarter totals compiled by the firm. Broadbridge provides investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and corporate issuers.
At the same time, Broadbridge announced it has launched an online tool that displays long-term mutual fund and ETF sales called Fund Distribution Intelligence. The site offers monthly, quarterly, annual and total market assets under management by channel for $7 trillion in mutual fund and ETF assets across 900 distributors. It can be found at http://access-data.broadridge.com/market-insights.
According to data released for the second quarter, the independent broker/dealer channel continued to grow in absolute dollars, accounting for the most mutual fund and ETF assets on the books of third-party distributors with $1.82 billion in the second quarter of 2013 compared to $1.47 billion in the second quarter of 2012.
RIAs ranked second, accounting for nearly $1.5 billion, followed by wirehouses, which represented $1.46 billion in the second quarter of 2013. However, looking at the data on a percentage basis, the discount channel experienced the largest growth year-to-date compared to 2012, with a 27 percent increase. On a quarterly basis, the private bank channel experienced the largest percentage increase from the second quarter of 2012 with a nearly 37 percent increase, according to Access Data.