New Zealand Retail Managed Funds rose by 4.1% or NZ$6.1bn during March Quarter 2023

Retail Managed Funds at the end of March totalled NZ$157.2bn, virtually unchanged down by just 0.2% over the past year with the two market leaders ANZ (-0.8%) and ASB (-0.3%) both closely mirroring the overall market result.

In the meantime other major companies were mixed as Milford (2.9%), BT / Westpac (4.4%), Booster (3.4%), Simplicity (6.4%) and BNZ (5.0%) all finished higher while Fisher (-2.1%), AMP (-6.2%) and Mercer (-3.4%) declined.

March quarter Inflows rose by 3.6% to NZ$6.9bn however year on year they still finished down by almost a third or 31.7%. While BT / Westpac (13.2%) reported an Inflow increase those of the other leading players were significantly lower including ANZ (-15.6%), ASB (-23.3%), Milford (-49.4%), Fisher (-51.6%), Simplicity (-54.7%), Booster (-42.1%) and AMP (-35.0%).

Source: Plan For Life

Download Media Release: PFL Media Release - New Zealand Mar23