Overall Retail Managed Funds at the end of March totalled NZ$81.6bn, climbing another 12.8% over the past year while during the March quarter funds were up by 3.4%. Reasonably good performances on underlying investment markets together with continued positive Net Funds Flow equally contributed to this very solid overall result.
Most companies reported significant increases in their funds under management over the past year with double digit percentage increases posted by BNZ (45.0%), Kiwi Wealth (22.1%), Milford (20.8%), Mercer (19.4%), Booster (18.3%), Fisher (16.5%), ASB (16.3%) as well as market leader ANZ (11.8%).
While during the latest March quarter Gross Inflows decreased 14.5% to NZ$4.8bn, year on year they still ended up 6.5%. Significant annual Inflow growth was experienced by Milford (29.2%), ASB (28.0%), Fisher (27.0%), BNZ (24.3%) and BT / Westpac (12.3%) while by contrast Mercer (-37.4%) reported a substantial fall.
Source: Strategic Insight (Plan For Life)
Download Media Release (PDF): SI PFL Media Release NZ Retail 317