New Zealand Retail Managed Funds Increase NZ$0.4bn during September Quarter 2022

Overall Retail Managed Funds at the end of September totalled NZ$147.5bn, which was down 6.3% over the past year. The average annual investment return on funds was negative 9.8% as central banks try to grapple with inflation by increasing interest rates. Investment markets have since bounced back however they remain volatile and with official interest rates still negative in real terms some further rises and reciprocal asset value falls seem both necessary and inevitable.

While KiwiSaver continued to enjoy significant net fund inflows all the other markets experienced small net outflows. Most companies recorded decreases in their funds under management including market leaders ANZ (-7.7%) and ASB (-6.0%) while more significant double digit percentage falls were reported by Fisher (-14.4%), AMP (-15.9%) and Mercer (-13.8%). By contrast Simplicity (8.9%) saw its business increase.

Gross Inflows fell 12.5% over the past twelve months to total NZ$36.7bn. While both ANZ (12.5%) and Kiwi Wealth (12.8%) saw their annual Inflows rise these increases were more than offset by falls reported by BT / Westpac (-10.9%), ASB (-10.2%), Milford (-30.4%), Fisher (-41.7%), Simplicity (-23.0%) and AMP (-23.1%).

Source: Plan For Life

Download Media Release: PFL Media Release - New Zealand Sep22