New Zealand Retail Managed Funds Rise NZ$6.7bn during December Quarter 2020

New Zealand Retail Managed Funds rose 5.5% in the December quarter; over the whole of 2020 they were up 9.9% to NZ$128.5bn as global markets recover from the falls they experienced in the first few months of 2020 due to the onset of the COVID-19 pandemic. Subsequently in early 2021 markets continued to climb with in particular US markets in record territory buoyed by hopes that vaccines will eventually bring the pandemic under control.

Almost all of the main companies reported increases in their Retail funds under management led in percentage terms by BNZ (28.2%), Booster (27.9%), Milford (27.4%), Fisher (22.3%), Kiwi Wealth (17.3%) and Mercer (12.7%). However, market leader ANZ (2.5%) along with AMP (-1.1%) recorded a couple of relatively flat results.

Gross Inflows for 2020 of NZ$38.7bn jumped 25.0% while during the December quarter they were also up 10.7%. Year on year AMP, Milford, Fisher, Kiwi Wealth, Mercer and BNZ posted above average Inflow growth rates while on the other hand those of BT were flat.

Source: Plan For Life

Download Media Release: PFL_Media_Release_-_New_Zealand_Dec20