New Zealand Retail Managed Funds increase by $3.3bn during March Quarter 2021

Retail Managed Funds at the end of March totalled NZ$132.9bn, up strongly by 22.4% over the past year as investment markets bounced back from the 2020 COVID-19 sell-offs. They have since continued to strengthen on hopes that vaccines will reverse the spread of the pandemic which is happening in 1st world countries but the situation in the rest of the world is out of control and deteriorating as new highly infectious strains take a terrible toll.

The Top 4 companies ANZ (13.1%), ASB (17.2%), BT / Westpac (12.4%) and AMP (10.0%) all reported double digit percentage increases in their funds while 5th & 6th placed Milford (53.2%) and Fisher (39.9%) outperformed along with Booster (41.6%), BNZ (32.0%) and Kiwi Wealth (30.5%).

During the March quarter Gross Inflows fell 22.2% to NZ$7.8bn but year on year they were still up a modest 2.9%. Very significant annual Inflow growth was experienced by Nikko (55.1%), Booster (49.8%), Fisher (35.4%), AMP (28.7%) and Milford (25.2%) however those of BT / Westpac (-13.2%) and ANZ (-9.9%) were both lower.

Source: Plan For Life

Download Media Release: PFL_Media_Release_-_New_Zealand_Mar21