Retail Managed Funds grew 2.1% during the June 2016 quarter to NZ$74.4bn while over the whole of 2015/16 they were up 11.9%. Three quarters of this growth was due to further significant positive net flows over the past year while the balance came from modest but importantly still mildly positive performances on underlying investment markets. Of the individual sub-markets KiwiSaver continued to outperform up another 18.9% while Unit Trusts & Managed Funds also increased by 7.7%. However the Other Superannuation market remained flat, up only a marginal 0.5% while Insurance & Investment Bonds business fell 6.9%.
All of the leading companies reported increases in their funds under management, led in percentage terms by Nikko (58.1%), ANZ (15.9%), BT / Westpac (15.1%), Booster (14.8%), Milford (13.5%), Kiwi Wealth (12.9%), ASB (12.8%) and Fisher (12.6%).
Gross Inflows for the year to June were NZ$20.7bn, up 12.8%, on the previous twelve months total; during the June quarter reported Inflows increased 16.0%. Nikko, ANZ, Mercer, Kiwi Wealth and BT / Westpac all reported very significant double digit percentage increases in their annual Inflows.
Source: Strategic Insight (Plan For Life)
Download Media Release (PDF): PFL SI Media Release NZ Retail 616