New Zealand Retail Managed Funds grow NZ$4.0bn during September Quarter 2020

Overall Retail Managed Funds at the end of September totalled NZ$120.6bn, climbing 7.6% over the past year. Continued substantial net fund flows into KiwiSaver was the main driver of this growth while the other sub-markets all saw net outflows. The overall annual investment return on funds was just a modest 3.1%.

Significant double digit percentage increases in funds under management were reported by BNZ (27.1%), Booster (23.4%), Milford (22.5%), Fisher (15.4%) and Kiwi Wealth (14.6%) however the results of the Top 4 companies were much more subdued with ANZ (1.4%), ASB (4.4%), BT/Westpac (4.2%) and AMP (1.0%) either relatively little changed or only moderately higher.

Gross Inflows jumped by almost a quarter, or 24.1% to NZ$9.1bn over the past twelve months. Most of the main companies posted large double digit percentage increases in their Inflows including in particular Booster (65.0%), Milford (61.8%), AMP (53.1%), BNZ (36.3%), Generate (31.6%), Kiwi Wealth (31.0%), Fisher (30.3%) and ANZ (25.1%).

Source: Plan For Life

Download Media Release: PFL_Media_Release_NZ_Retail_920