New Zealand Retail Funds finished down NZ$3.0bn in March Quarter

Retail Managed Funds at the end of March totalled NZ$259.8bn up 15.4% over the past year thanks to positive net funds flow and investment earnings. Market leaders Milford (30.4%) and ASB (13.5%) reported double digit percentage growth along with mid-sized players FundRock (49.7%) and FirstCape (10.1%). Meanwhile ANZ (6.0%), BT / Westpac (8.2%), NZX/Smartshares (6.8%) and AMP (8.0%) were also higher.

Despite decreasing 4.5% in the March quarter year on year reported Inflows rose 17.9% to total NZ$61.9bn. Milford (52.0%), FundRock (75.9%), Kernel (89.2%) and Generate (30.4%) recorded very large jumps in annual Inflows. Also BT / Westpac (9.4%), ASB (12.1%), NZX/Smartshares (16.7%) and Simplicity (17.7%) all saw significant Inflow growth while those reported by ANZ (0.1%) were almost unchanged.

Source: Plan For Life

Download Media Release: PFL Media Release - New Zealand Mar26