New Zealand Retail Managed Funds grew by 4.3% during the December 2015 quarter to NZ$68.4bn. Over the whole of the past year they jumped another 15.6% after recording similarly strong 17.2% and 18.3% increases previously in both 2014 and 2013.
While underlying investment markets were buoyant during the December quarter they also remain clearly nervous and jittery as witnessed subsequently over the past few weeks of early 2016 which has seen them initially fall but now as we go to press again recovering. Nikko (61.6%), but off a relatively modest base, Kiwi Wealth (25.0%), Grosvenor (20.0%), BT / Westpac (19.8%), Milford (18.2%) ANZ (17.4%), ASB (15.6%) and Fisher (14.5%) all reported double digit increases in their Retail funds under management.
Gross Inflows during 2015 of NZ$19.2bn, were up 14.5% building further on the dramatic jump of 40.5% that was recorded in 2014. There was the usual dip in reported Inflows during the December quarter which saw them down 23.8% due to KiwiSaver seasonality factors. Year on year BNZ, Kiwi Wealth, ANZ, Mercer and Nikko posted well above average 20% plus annual Inflow growth rates.