Retail Managed Funds grew 2.4% during the June 2017 quarter to NZ$83.5bn while over the whole of 2016/17 they were up 13.1%. Around half of this growth was due to further significant positive net fund flows experienced during the past year with good positive performances on underlying investment markets accounting for the other half.
Of the individual sub-markets KiwiSaver continued to outperform, up another 20.5%. Unit Trusts & Managed Funds and Other Superannuation also increased by 7.1% and 3.7% respectively while Insurance & Investment Bonds business was down 4.4%. All of the leading companies reported significant increases in their funds under management with the ranking order of percentage growth rates BNZ (45.2%), Milford (24.8%), Kiwi Wealth (24.5%), Mercer (19.9%), Booster (19.2%), ASB (16.3%), Fisher (16.3%), BT / Westpac (11.8%), ANZ (10.5%) and AMP (9.6%).
Gross Inflows for the year to June were NZ$22.0bn, up 5.8%, on the previous twelve months total; during the June quarter reported Inflows increased 16.6%. Generate, Milford, BNZ, ASB, Fisher, and BT / Westpac all reported significant double digit percentage increases in their annual Inflows.
Source: Strategic Insight
Download Media Release (PDF): SI PFL Media Release NZ Retail 617