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The $11.2 billion growth was made up of $6.5 billion from investment earnings and $4.7 billion in net funds flowing into the pension scheme, according to the Rainmaker Information PFL New Zealand Report.
KiwiSaver is the dominant product sector in New Zealand, accounting for 58% of total retail funds under management and 40% of inflows.
Over the quarter to 31 March 2025 funds under management declined by $1 billion, a reduction of 0.81%.
The $1 billion quarterly change was made up of investment losses of $1.6 billion and fund inflows of $0.6 billion.
The three-year growth of funds in KiwiSaver sits at 37%.
KiwiSaver FUM growth and net funds flow
Of the 28 major KiwiSaver providers, Milford Asset Management had the largest annual growth in dollar figures, up $2.4 billion fora 29.4% growth.
In percentage terms, Nikko Asset Management had the largest growth, with 228.8%, seeing funds under management increase from $26 billion to $84 billion.
The bulk of funds under management (around 88%) is held in multi-asset funds (balanced, growth and capital stable), roughly split 50% growth, 30% balanced and 20% capital stable.
$39.4 billion or 32% of KiwiSaver funds under management is held in default funds (default providers are selected when a member does not select a fund), which rose 9.1% over the year. This is slightly lower than overall market growth.
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Total risk market inflows were down a marginal 0.6% over the year to June 2024, decreasing from $18.3 billion to $18.2 billion.
Dual access ETPs, which are transacted both on stock exchanges and off-market through funds managers, can cost four times as much as the rest of the Australian ETP market.
