NZ$4.0bn Growth in New Zealand Retail Managed Funds during June Quarter 2019

Retail Managed Funds grew 3.9% during the June 2019 quarter to NZ$105.8bn while over the whole of 2018/19 they were up 11.3%. Almost half the growth was due to further significant net fund flows experienced with good performances on underlying investment markets during the last two quarters accounting for the balance. Looking at individual sub-markets KiwiSaver continues to outperform the rest jumping another 16.5%. Unit Trusts & Managed Funds also increased up a more moderate 6.4%. By contrast the Other Superannuation market was flat, rising a marginal 0.3%, while Insurance & Investment Bonds continue to decline, down 7.1%.

All the leading companies reported increases in funds under management with some of the highest percentage growth rates being recorded by BNZ (30.1%), Milford (24.3%), Booster (20.4%), ASB (16.3%), Fisher (15.9%), Kiwi Wealth (14.6%) and
BT / Westpac (10.8%).

Gross annual Inflows to June were NZ$27.5bn, up 7.0% on the previous year; during the June quarter reported Inflows jumped 16.1%. While Generate, Milford, Fisher, ASB and BNZ posted double digit annual Inflow growth rates both Mercer and AMP were lower.

Source: Plan For Life

Download Media Release: PFL_Media_Release_NZ_Retail_619