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Article: Investment funds shift from Big Four.
- Article from:
- Australasian Business Intelligence
- Article date:
- November 5, 2009
CopyrightCOPYRIGHT 2009 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Duncan Hughes
Nov 05, 2009 (The Australian Financial Review - ABIX via COMTEX) -- Data from Dexx&r show that the four major Australian banks' market share in the wealth management sector now exceeds 37 per cent. However, their wealth management divisions accounted for just $A1.2bn of the banks' profits in 2008-09, which is around 33 per cent lower than previously. The wealth management divisions recorded a five ...