Assets under custody in Australia rise by 5.7% in June half, 
surpassing $5 trillion for first time

Data released today by the Australian Custodial Services Association (ACSA), the peak industry body for custodians and asset service providers in Australia, revealed a 5.7% rise in assets under custody to $5.04 trillion in the six months to 30 June 2024.  

Source: Australian Custodial Services Association. Full breakdown available at https://acsa.com.au/page/IndustryStatistics

Markets demonstrated strong momentum in the first half of 2024, with assets under custody in June 2024 surpassing $5 trillion for the first time. 

Individual custodians fared differently throughout the period due to increased movements in custody assets within the industry (for more details visit ACSA’s website).

According to the latest ACSA data, Australian investors increased their allocation to overseas assets during the period by 11.4% to $1.8 trillion during the half, with Australian-domiciled investments increasing 3.0% to $3.2 trillion. Assets held in Australia on behalf of offshore investors (sub-custody assets) increased by 4.4% to $2.2 trillion.

Asset servicing providers in Australia had $5.8 trillion in assets under administration as at 30 June 2024, up 7.1%, and settled 11.4 million trades in the six months, a decrease of 2% compared to the previous six months. ACSA members, on average, settled approximately 87,500 trades per day on behalf of clients. 

ACSA Chief Executive Officer David Travers said that in the past six months ACSA has been active in response to significant market and regulatory change. 

“In the June half investors increased their allocation to offshore investments to take advantage of investment opportunities and momentum building in offshore markets. Locally, there has been greater stability in the asset levels reported by ACSA with relatively small changes in assets under custody, although there was a moderate uplift in assets under administration,“ Mr Travers said. 

“ACSA and its members remain focused on their response to regulatory change and evolving changes to market frameworks, such as global moves toward T+1, continued support for the ASX on CHESS and its replacement program, and local discussions on T+1. 

“Innovation, industry engagement and best practice solutions remain a critical focus for achieving efficiency in custody and investment administration. ACSA remains well placed to address the opportunities and challenges in the coming year through our working groups and dedicated industry volunteers,” Mr Travers said. 

A full copy of the ACSA data for the June 2024 can be found at: https://acsa.com.au/page/IndustryStatistics

Media enquiries  
Nick Owens 
Sefiani Communications Group 
0421 977 062
nowens@sefiani.com.au 
 
About the Australian Custodial Services Association (ACSA) 

The Australian Custodial Services Association (ACSA) is the peak industry body representing members of Australia’s custodial and investment administration sector. ACSA was established in 1994 with the mission of promoting systemic efficiency and international best practice for members, clients, and the market. ACSA works with peer associations, regulators, and other market participants on a pre-competitive basis to encourage standards, process consistency, market reform and operating efficiency.