Overall Retail Managed Funds at the end of September totalled NZ$87.4bn, up by a reasonably strong 12.6% over the past year. Substantial net fund flows into KiwiSaver and to a lesser degree Unit Trusts & Managed Funds combined with investment earnings averaging over 6% pa were responsible for this good growth.
Significant increases in funds under management were reported by all the leading companies with in particular BNZ (43.5%), Kiwi Wealth (24.3%), Mercer (20.3%), ASB (19.8%), Booster (17.9%), Milford (17.1%) and Fisher (13.3%) achieving above average annual growth rates.
Gross Inflows jumped 21.6% to NZ$6.8bn during the September 2017 quarter due to the usual KiwiSaver cashflow seasonality boost coupled with some increased flows into Unit Trusts. Over the whole of the past twelve months Inflows were up 11.4%. Companies posting double digit percentage increases in their Inflows year on year included ASB (45.5%), BNZ (37.8%), Generate (26.4%), Milford (18.7%), AMP (15.2%), BT / Westpac (14.8%), Fisher (14.0%) and Kiwi Wealth (11.6%).
Source: Strategic Insight
Download Media Release: SI_PFL_Media_Release_NZ_Retail_917