New Zealand Retail Managed Funds grow NZ$5.0bn during September Quarter 2019

Overall Retail Managed Funds at the end of September totalled NZ$111.2bn, up strongly by another 12.1% over the past year. Continued substantial net fund flows into KiwiSaver and to a lesser degree Unit Trusts & Managed Funds together with circa 6% pa investment earnings were responsible for this growth.

Significant to very significant increases in funds under management were reported by most companies including BNZ (32.2%), Milford (26.7%), Booster (20.3%), Fisher (17.3%), ASB (15.0%), Kiwi Wealth (12.0%), BT/Westpac (9.4%) and market leader ANZ (9.4%) although the relatively flat result of AMP (1.3%) was a notable exception.

Gross Inflows jumped by more than a quarter, or 25.6% to NZ$9.0bn during the September 2019 quarter due to the usual KiwiSaver cashflow seasonality boost. Over the past twelve months Inflows were up 10.7%. Most of the main companies posted double digit percentage increases in their Inflows in particular mid to smaller players Generate (57.5%), Fisher (41.4%), Russell (33.5%), BNZ (33.4%) and Milford (29.8%). Going against the positive trend two of the majors AMP (-7.8%) and BT / Westpac NZ (-3.2%) were lower.

Source: Plan For Life

Download Media Release: PFL_Media_Release_NZ_Retail_919