NZ$9.9bn Growth in New Zealand Retail Managed Funds during June Quarter 2020

Retail Managed Funds increased 9.3% during the June quarter to NZ$116.1bn and were similarly up 9.1% over the whole of 2019/20. Two thirds of the growth was due to significant net fund flows with fairly modest investment earnings accounting for most of the rest. KiwiSaver continues to grow strongly jumping another 15.5% while by comparison the performances of the other markets were all rather pedestrian. Unit Trusts & Managed Funds finished relatively flat, up by just 1.7%, while both Other Super and Insurance & Investment Bonds were lower down by 2.8% and 6.3% respectively.

Virtually all leading companies reported increases in funds under management with some of the highest percentage growth rates being recorded by BNZ (32.1%), Milford (24.4%), Booster (21.9%), Fisher (15.3%) and Kiwi Wealth (12.5%) but AMP was an exception declining by a marginal 0.3%.

Gross reported annual Inflows to June were NZ$37.0bn up by almost third, or 32.6% despite falling 12.3% during the latest quarter. Year on year all companies posted very significant Inflow increases in particular Milford, BNZ, Mercer, Generate, Fisher, ANZ and AMP.

Source: Plan for Life

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