Assets under custody in Australia rise by 2% in June half in subdued market conditions

Data released today by the Australian Custodial Services Association (ACSA), the peak industry body for custodians and asset service providers in Australia, revealed a 2.1% rise in assets under custody to $4.4 trillion in the six months to 30 June 2023. 

During a period of volatility in local and global markets, assets under custody in June 2023 have rebounded to levels consistent with the prior quarter. Individual custodians experienced different performance outcomes throughout the year due to increased custody asset movements within the industry (Full details can be found in the statistics on ACSA’s website).

According to the latest ACSA data, Australian investors increased their allocation to overseas assets during the period by 9.7% to $1.5 trillion, and Australian-domiciled investments decreased by 1.5% to $2.9 trillion. Assets held in Australia on behalf of offshore investors (sub-custody assets) increased by 6.1% to $1.9 trillion.

Asset servicing providers in Australia had $5.2 trillion in assets under administration as at June 2023, up by 0.9% from $5.1 trillion, and settled 12 million trades in the six months to 30 June 2023, three per cent fewer than the previous six months. ACSA members on average settled approximately 91,600 trades per day on behalf of clients. 

A full copy of the statistics can be found here.

Read the media release in full here.

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Kate Skokan
Sefiani Communications Group
0433 782 494
kskokan@sefiani.com.au