New Zealand Retail Managed Funds Declined NZ$1.3bn during September Quarter 2023

Retail Managed Funds at the end of September totalled NZ$163.0bn up 8.8% over the past year mainly due to buoyant investment markets even as global central banks are finally trying to normalise interest rates in an effort to control inflation. While KiwiSaver continued to enjoy significant net fund inflow all the other sub-markets experienced net outflows.

Mercer (32.4%) saw its funds under management jump after the inclusion of all of Macquarie's $2.4bn investment fund business. Double digit percentage increases were also reported by Booster (17.4%), Simplicity (16.8%), BNZ (14.6%), Milford (14.2%), BT/Westpac (12.1%) and Fisher (10.7%) while market leader ANZ (6.1%) along with runner-up ASB (5.9%) also finished higher.

Gross Inflows fell by close to a quarter or 23.3% over the past twelve months to total NZ$30.0bn. All the leading companies saw their annual Inflows decrease significantly including all the Top 5 with ANZ (-36.9%), ASB (-23.3%), Fisher (-30.2%), Milford (-21.9%) and BT / Westpac NZ (-11.3%).

Source: Plan For Life

Download Media Release: PFL Media Release - New Zealand Sep23