Overall Retail Managed Funds at the end of September totalled NZ$65.5bn, up strongly by 15.6% over the past year. Driving this growth were significant net flows into both KiwiSaver and Unit Trusts & Managed Funds which were in turn further augmented by positive, albeit modest compared to previous recent years, investment earnings of circa 5% pa on average.
Significant double digit percentage growth was reported by most companies with Nikko (63.8%), off a low base, Kiwi Wealth (49.5%), Mercer (23.6%), Grosvenor (20.1%), BT / Westpac (19.1%), ASB (17.2%), ANZ (16.8%) and Milford (16.6%) all achieving above average annual growth rates.
Gross Inflows jumped 22.0% to NZ$6.0bn during the September 2015 quarter due to the usual KiwiSaver cashflow seasonality while over the past twelve months they were similarly up 20.4%. Most companies reported higher Inflows year on year with 20% plus increases experienced by BNZ (133.6%), Mercer (50.9%), ANZ (40.6%), Kiwi Wealth (39.2%), Nikko (26.9%) and ASB (23.4%).