Overall Retail Managed Funds at the end of March totalled $62.6bn, jumping 20.6% over the past year. During the March quarter funds continued to grow up by 5.3% largely on the back of strong performances on underlying investment markets. However the continued volatile and fluid state of these markets is evident in that by now probably as much as half of this March quarter investment earnings out-performance has already been reversed out. Virtually all companies reported large increases in their funds under management over the year to March with 20% plus percentage increases being posted by Nikko (151.9%), Kiwi Wealth (62.3%), Milford (47.2%), Grosvenor (27.5%), ASB (23.0%), BT / Westpac (22.9%), Fisher (21.0%) and ANZ (20.0%).
During the latest March quarter, overall Gross Inflows declined by 14.3% to $3.8bn however in total year on year they were still up substantially by over a third, or 35.3%. Significant annual Inflow growth was experienced by Devon (500.0%), but off a very low base, Kiwi Wealth (98.0%), ANZ (58.9%), AMP (49.3%), ASB (34.8%), Fisher (32.1%) and Mercer (22.0%).