APIR Systems (APIR) has seen another significant increase in the number of new financial product registrations in the year ending 30 June 2022.

According to APIR chief executive, Chris Donohoe, product registrations increased 30.1 per cent on the prior year; this continues on from the 2020/21 increase of 25.8 per cent.

APIR identifies, codes and manages reference data for unlisted financial products. In its 27 years of operation, it has identified over 30,000 individual financial products.

Key highlights from 2021/22 data include:

• Total product registrations are up 30.1 per cent on the same period the previous year at 964 for the 2021/22 financial year
• Rationalisation of superannuation investment options continues but total product terminations decreased by 4.5 per cent on the 2020/21 financial year
• Participant registrations increased 7.3 per cent on the prior year.

“Registrations of traditional managed investment products continue to thrive indicating a healthy level of product development within the industry. Managed fund products continued to be the key registration growth driver, having increased approximately 14.0 per cent on the prior year. Closed end products such as mortgage trusts continue to increase their contribution to overall registration growth numbers.

“It was also very pleasing to expand APIR’s identification coverage with the first registration of insurance related products in 2021/22.”

Mr Donohoe says that termination numbers for the 2021/22 were lower than previous years and still very much focussed on superannuation investment options; with 78.8 per cent of the 2021/22 terminations being superannuation investment options. Interestingly, archiving of managed funds products fell over 50 per cent and were back in line with the five-year rolling average following a significant spike in 2020/21.

Looking forward to the 2022/23 financial year, Mr Donohoe says it will be interesting to see the response by product manufacturers to recent changes in the economic climate, including the outlook for higher global interest rates and inflation. 

Further analysis of APIR’s managed investment product registration data will be released in coming weeks.

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