New Zealand Retail Managed Funds Rise NZ$3.6bn during December Quarter 2019

New Zealand Retail Managed Funds rose 3.2% in the December quarter; over the whole of 2019 they jumped 20.0% to NZ$114.9bn.  Global markets have subsequently fallen sharply and are suffering extreme volatility triggered by COVID-19 and the unprecedented social distancing / shutdown quarantine measures enacted to slow its spread before the virus becomes an uncontrollable pandemic.  At time of publication the main international stock markets are down around 15% to 20% with so far the US and Japan faring best but this situation is highly unstable, they were down much more just two or three weeks ago, with this situation expected to continue for the foreseeable future. 

All the main companies reported increases in their Retail funds under management led in percentage terms by Milford (44.5%), BNZ (39.2%), Booster (33.8%), Fisher (27.7%), Kiwi Wealth (21.4%) along with leaders ANZ (17.1%) and ASB (17.6%).

Gross Inflows for 2019 of NZ$30.8bn climbed 13.6% while there was the usual pause in reported Inflow growth during the December quarter which saw them fall 9.0% due to KiwiSaver seasonality factors.  Year on year Simplicity, Generate, Milford, Fisher and BNZ posted well above average Inflow growth rates while on the other hand those reported by BT, AMP and Kiwi Wealth were all fairly flat.

Source: Plan For Life

Download Media Release: PFL_Media_Release_NZ_Retail_1219