Overall Retail Managed Funds at the end of March totalled NZ$101.8bn, climbing another 11.3% over the past year while during the March quarter they bounced back 6.6%. A combination of fairly good, albeit volatile, annual performances on underlying investment markets together with continued positive Net Funds Flow contributed to this solid overall result.
Most companies reported significant increases in their funds under management over the past year with double digit percentage growth posted by BNZ (31.7%), Milford (20.7%), Booster (20.1%), ASB (16.9%), Kiwi Wealth (15.2%), Fisher (14.4%) and BT / Westpac (11.4%).
While during the latest March quarter Gross Inflows fell 10.7% to NZ$6.2bn, year on year they were still up by 9.1%. Significant annual Inflow growth was experienced by Generate (59.3%), Milford (35.0%), ASB (22.1%), BNZ (16.6%) and Fisher (12.8%) meanwhile however AMP (-16.0%) reported a fall in its Inflows.
Source: Strategic Insight (Plan For Life)
Download Media Release: SI_PFL_Media_Release_NZ_Retail_319