Overall Retail Managed Funds at the end of March totalled NZ$92.8bn, climbing another 12.8% over the past year while during the March quarter funds were up only slightly by 0.6%. A combination of fairly good performances on underlying investment markets together with continued positive Net Funds Flow equally contributed to this 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 (41.1%), Milford (30.9%), Kiwi Wealth (22.2%), ASB (20.0%), Booster (18.0%), Fisher (14.7%) and BT / Westpac (13.9%).
While during the latest March quarter Gross Inflows decreased 5.9% to NZ$6.2bn, year on year they were still up strongly by 15.1%. Significant annual Inflow growth was experienced by Russell (126.5%), BNZ (41.7%), Mercer (33.2%), ASB (28.1%), Milford (26.3%), Kiwi Wealth (25.9%), BT / Westpac NZ (24.2%) and AMP (18.0%).
Source: Strategic Insight (Plan For Life)
Download Media Release: SI_PFL_Media_Release_NZ_Retail_318