Research company Dexx&R says strong growth has been recorded in the superannuation industry in the 12 months to March. Its latest report shows total funds under management/administration in the retail and wholesale markets combined increased by more than 15% over the 12 months to March 30.

The total retail market increased by 12.7% to $327 billion over the same period. Within the retail market, the corporate superannuation market segment increased by 20% to $50 billion, with BT recording an increase of 33% to $3 billion funds under management/administration. MLC recorded an increase of 28% to $4.9 billion and Asgard managed a 27% increase to $1.1 billion.

Dexx&R says the personal superannuation market increased by 11.9% to $103 billion in the period. Colonial First State recorded an increase of 35% to $7.3 million, Macquarie a 33% increase to $3.7 billion and MLC an increase of 15% to $12.4 billion.

In the retirement incomes market funds held in allocated pensions increased by 8.5% to $37.3 billion.