NZ$10.0bn Growth in New Zealand Retail Managed Funds during March Quarter 2024

Retail Managed Funds at the end of March totalled NZ$195.4bn up 14.6% over the past year driven in particular by strong investment earnings as well as a positive net funds flow with all the major companies reporting significant growth including all five of the market leaders ANZ (8.2%), ASB (9.7%), Fisher (14.7%), Milford (22.8%) and BT / Westpac (16.3%).

Despite dropping by 19.2% in the March quarter year on year reported Inflows still finished up 2.7% to total NZ$35.4bn. While Milford (35.8%), AMP (26.5%), FirstCape (19.3%) and Booster (12.2%) all reported substantial Inflow increases those of market leader ANZ (-12.7%) and BT / Westpac (-23.1%) both fell.

Source: Plan For Life

Download Media Release: PFL Media Release - New Zealand Mar24