Overall Retail Managed Funds at the end of September totalled NZ$77.6bn, up strongly by 14.9% over the past year. Significant net fund flows into both KiwiSaver and to a relatively lesser extent Unit Trusts & Managed Funds combined with solid investment earnings averaging 7% pa were responsible for this robust growth.
Significant double digit percentage increases in funds under management were reported by most companies with Nikko (55.3%), Milford (28.2%), Booster (20.2%), Fisher (19.6%), ANZ (17.7%), Kiwi Wealth (17.0%) and ASB (16.1%) all achieving above average annual growth rates.
While Gross Inflows climbed 10.8% to NZ$5.9bn during the September 2016 quarter due to the usual KiwiSaver cashflow seasonality boost, over the whole of the past twelve months they were up by a much more modest 3.4%. Companies posting higher Inflows year on year included Nikko (57.6%), Fisher (15.9%), BT / Westpac (14.1%), ANZ (10.5%), Kiwi Wealth (9.3%) and BNZ (7.2%). By contrast AMP (-36.9%) and Mercer (-31.2%) both reported substantially lower annual Inflows.
Source: Strategic Insight (Plan For Life)
Download Media Release (PDF): PFL SI Media Release NZ Retail 916