Overall Retail Managed Funds at the end of March totalled NZ$72.9bn, climbing 12.8% over the past year, while during the March quarter funds were up by 2.8%. These increases were despite uninspiring performances on directionless underlying investment markets that only generated overall annual investment earnings of 2.2%; the continued volatile and fluid state of these markets continues to remain a very real and serious concern.
Nevertheless most of the companies reported significant increases in their funds under management over the past year with double digit percentage increases being posted by Nikko (54.7%), BT / Westpac (16.9%), Kiwi Wealth (16.3%), Grosvenor (16.3%), ANZ (15.8%), ASB (12.8%), Milford (11.5%) and Fisher (10.5%).
During the latest March quarter, Gross Inflows declined 6.0% to NZ$4.4bn however year on year they were still up a solid 12.4%. Significant annual Inflow growth was experienced by ANZ (39.2%), Mercer (37.3%), Kiwi Wealth (29.4%), Nikko (24.5%), BNZ (12.7%) and BT / Westpac (11.9%) while those of AMP (-27.0%) and Milford (-9.1%) were both substantially lower.
Source: Plan For Life