New Zealand Retail Managed Funds Increase by NZ$10.9bn in December Quarter 2023

New Zealand Retail Managed Funds rose 6.3% in the December quarter while over the whole of the 2023 calendar year they were up 13.1% to total NZ$183.4bn main thanks to increases in the market value of their underlying investments and to a lesser degree continued positive net fund flows.

All the leading companies reported increases in their Retail funds under management with in particular some double digit percentage growth rates being recorded by Mercer (37.3%), Simplicity (22.4%), Booster (19.5%), BNZ (17.3%), Milford (16.6%), BT / Westpac (15.9%) and Fisher (14.4%).

Year on year overall Gross Inflows for 2023 were 7.3% lower at NZ$30.4bn after dropping 19.1% in the December quarter. While market leader ANZ (-18.4%) along with ASB (-11.8%) and BT / Westpac (-20.4%) all reported significant falls in their annual Inflows those of AMP (27.5%) and Generate (38.9%) were both much higher.

Source: Plan For Life

Download Media Release: PFL Media Release - New Zealand Dec23