Retail Managed Funds grew 4.0% during the June 2018 quarter to NZ$96.3bn while over the whole of 2017/18 they were up 14.4%. Nearly half of this growth was due to further significant net fund flows experienced during the past year with good performances on underlying investment markets accounting for the rest.
Of the individual sub-markets KiwiSaver continued to outperform up another 19.8%. Unit Trusts & Managed Funds also increased by 10.4% while by contrast the Other Superannuation market was relatively flat up only 1.2% and Insurance & Investment Bonds continue to decline, down 5.4%. All the leading companies reported increases in their funds under management with the highest percentage growth being recorded by BNZ (40.5%), Milford (32.5%), Kiwi Wealth (21.9%), ASB (20.4%), Booster (20.2%), Fisher (16.0%), BT / Westpac (13.1%) and ANZ (11.9%).
Gross Inflows for the year to June were NZ$26.1bn which was up 18.0% on the previous twelve months total; during the June quarter reported Inflows increased 8.3%. Mercer, Generate, BNZ, ASB, BT / Westpac, Milford and Kiwi Wealth all reported 20% plus, indeed in the case of the first three much higher, increases in their annual Inflows.
Source: Strategic Insight (Plan For Life)
Download Media Release: SI_PFL_Media_Release_NZ_Retail_618