Overall Retail Managed Funds at the end of September totalled NZ$100.6bn, jumping relatively strongly by 14.3% over the past year. Substantial net fund flows into KiwiSaver and Unit Trusts & Managed Funds plus 8% pa investment earnings were responsible for this growth.
Significant increases in funds under management were reported by all the leading companies with in particular Milford (38.4%), BNZ (37.3%), Kiwi Wealth (21.7%), Booster (21.6%), ASB (19.2%), Fisher (16.0%), BT / Westpac (13.6%) and ANZ (11.1%).
Gross Inflows jumped 9.8% to NZ$7.4bn during the September 2018 quarter due to the usual KiwiSaver cashflow seasonality boost. Over the whole of the past twelve months Inflows were up 19.2%. Companies posting double digit percentage increases in their Inflows year on year included Generate (68.1%), Milford (49.5%), Mercer (34.0%), BNZ (30.9%), ASB (21.8%), Kiwi Wealth (21.2%) and BT / Westpac (19.7%).
Source: Strategic Insight (Plan For Life)
Download Media Release: SI_PFL_Media_Release_NZ_Retail_918