New Zealand Market Overview

Retail managed funds totalled $254.4 billion NZD, jumping 18.5% over the past year due to a combination of buoyant investment earnings and an overall net funds inflow.
Most companies reported increased funds under management including market leaders Milford (36.4%), ASB (15.1%), ANZ (5.3%), Fisher (9.0%), BT/Westpac (8.4%) and NZX/Smartshares (16.9%).
Reported gross inflows rose by 21.9% over the past year to total $56.4 billion NZD.
Milford (75.5%), ASB (16.8%), BT/Westpac (18.3%), NZX/Smartshares (25.9%), FirstCape (24.6%), FundRock (43.1%) and Generate (34.1%) posted double-digit percentage jumps in annual inflows along with Kernel (91.6%), achieving a significant percentage jump from a lower base.

KiwiSaver funds under management is now $138.3 billion NZD, representing 54.4% of overall New Zealand retail managed funds.
During the September quarter KiwiSaver funds were up 7.0%, while over the past year they increased by 15.3%.
All major participants reported higher funds under management, including the three market leaders ANZ (5.8%), ASB (13.7%) and Fisher (6.8%), both Milford (38.9%) and Generate (32.2%) recorded growth of more than 30%.
Gross inflows jumped by 41.5% in the September quarter due to the usual seasonal factors that include the payment of government co-contributions, while year-on-year they were up 13.9%.
While market leader ANZ (-29.5%) reported a substantial fall in its annual inflows, those of other major companies finished higher with ASB (10.2%), Fisher (7.6%), Milford (43.7%), BT/Westpac (49.1%), Generate (30.2%), Booster (19.8%) and Simplicity (12.7%) all experiencing increases.

Other (non-KiwiSaver) super ended the last twelve months up by 13.0%.
Most participants finished higher, led by AMP (8.2%), NZX/Smartshares (7.4%), UniSaver (7.0%) and MAS (11.4%).
Fisher rose by 248.7%, more than triple its reported funds under management after the inclusion of their LifeSaver Plan.
Mercer (21.0%) also recorded a significant double-digit jump in its other super business.
Annual gross inflows rose 20.4% with AMP (24.6%), MAS (28.0%), Booster (13.7%), Mercer (288.1%) and UniSaver (9.1%) reporting significant increases.
Fisher (175.0%) also saw its annual inflows jump, however, that was from a relatively low base.

Unit trusts and managed funds increased by 8.9% in the September quarter, while they rose 24.2% over the past year.
Most participants reported double-digit percentage growth in their funds under management, including market leaders Milford (34.5%), FundRock (58.7%), NZX/Smartshares (20.8%) and ASB (18.4%).
Reported annual gross inflows also rose by 27.6% with Milford (102.2%), Kernel (89.2%), Amova (63.6%), FirstCape (49.6%), FundRock (47.5%), First Mortgage (46.0%), NZX/Smartshares (43.4%) and ASB (20.7%) all recording very strong percentage gains.
Meanwhile, those reported by Mercer (-52.1%) dropped sharply.

Insurance and investment bonds finished the past year broadly flat, up 0.3%.
There are only two remaining participants in this sub-market: Resolution (-0.4%) and Asteron (1.6%).
Year-on-year inflows into insurance and investment bonds increased by 75% to total $7 million NZD, however they remain relatively insignificant.