New Zealand Retail Managed Funds were up strongly by 4.9% during the December 2017 quarter to total NZ$92.2bn. Over the whole of the past year they climbed yet another 15.9% which was in line with the average growth rate experienced over the previous 4 years.
While in 2017 the mood on underlying investment markets was buoyant they also remain volatile and unpredictable and as we go to press so far in 2018 the main international stock exchanges have already fallen by between 3% and 10%. BNZ (46.8%), Milford (28.6%), Kiwi Wealth (27.9%), ASB (24.2%), Booster (23.7%), Fisher (19.8%), BT / Westpac (15.7%), ANZ (13.8%) and Mercer (11.7%) all reported double digit percentage increases in their Retail funds under management.
Gross Inflows during 2017 of NZ$23.9bn were up by 10.1% building further on the very strong 22% plus average recorded over the previous five years. There was the usual dip in reported Inflows growth during the December quarter which saw them decline 3.2% due to KiwiSaver seasonality factors. Year on year BNZ, ASB, BT / Westpac, Kiwi Wealth, Generate, Milford, AMP and Fisher all posted above average Inflow growth rates while on the other hand those of market leader ANZ were lower.
Source: Strategic Insight
Download Media Release: SI_PFL_Media_Release_NZ_Retail_1217