NZ$3.1bn Growth in New Zealand Retail Managed Funds during June Quarter 2024

Retail Managed Funds rose slightly by 1.6% in the June quarter to NZ$198.7bn while over the whole of the 2023/24 financial year they were up a much more significant 13.0%. The main KiwiSaver and Unit Trusts & Managed Funds markets finished higher increasing by 15.2% and 11.7% but Other Super was flat, down a marginal 0.2%, while Investment Bonds declined 4.6%. All of the main companies reported increases in their funds under management including in particular Mercer (43.2%), Simplicity (21.0%), Milford (20.6%), Booster (15.8%), BT / Westpac (14.0%) and FirstCape (10.5%) who all reported double digit percentage increases. The Top 3 market leaders ANZ (4.9%), ASB (7.3%) and Fisher (9.1%) also all finished higher.

Gross annual Inflows to June totalled NZ$39.7bn, which year on year was up significantly by 18.5%. BT / Westpac (-21.8%) reported a decrease in its annual Inflows but those of all the other leaders were higher with in particular some very large percentage jumps being recorded by Milford, FundRock, Kernel and Simplicity.

Source: Plan For Life

Download Media Release: PFL Media Release - New Zealand Jun24