Overall Retail Managed Funds at the end of March 2014 totalled $42.8bn, jumping 20.2% over the past year. During the March quarter funds continued to grow strongly by 3.8% even though the rally on international stock markets over the past couple of years took a bit of a breather.
This was despite unabated, indeed unprecedented, coordinated fiscal stimulus and easy money policies still being pursued around the world led by the US, Europe and Japan. Most companies reported significant increases in their Retail funds under management over the year to the end of March with some of the better performers being Milford Asset Management (101.5%), BT / Westpac (37.4%), Kiwi Wealth (33.4%), Grosvenor (22.9%), ANZ (21.5%), Fisher Funds (19.4%), ASB (14.5%) and Mercer (12.2%).
During the latest March quarter overall Gross Inflows declined by 8.7% to $3.0bn however over year on year they were still up substantially by a third, or 33.0%. Significant annual Inflows growth was experienced by Milford (98.5%), BT / Westpac (50.2%), ANZ (35.7%) and ASB (21.2%); Fidelity Life (139.5%) and Asteron (88.5%) also reported large percentage jumps but off lower bases.
Click the following link for the full report, including tables: 0314_PFL_Media_Release_NZ_Retail_314
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