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Investors embrace tax-effective funds

Good Returns, in its first ever survey of tax-effective funds, reveals how popular OEICs and Australian funds are with investors.

Thursday, August 2nd 2001, 12:35AM

by Philip Macalister

The first ever survey of funds flow into offshore funds reveals investors and advisers are starting to strongly embrace tax-effective UK-based Open-Ended Investment Companies (OEIC), and Australian domiciled funds.

The survey, carried out by Good Returns, shows that net funds flow into OEICs totalled $24.32 million in the three months to June 30. This compares well with total net funds flow into retail funds.

Research house FundSource says $354 million in new funds flowed into the industry in the quarter.

While flows into OEICs equate to 7% to total funds flows, it has to remembered that the Good Returns' OEIC survey covered just 31 funds compared to more than 450 in the FundSource market share report.

What is more startling is the massive amounts of money which is going into tax effective Australian based funds.

In total the two managers which run funds here, ANZ and NZ Funds Management (Money Managers' First Step fund) had total net funds flows of $99.99 million. (A portion of this money is captured in the FundSource report).

The figures for the Australian based funds are under-reported as money is going into other funds and the manager responsible for them did not wish to disclose details.

The Good Returns' survey shows that Money Managers' First Step fund is footing it with the successful mortgage funds run by banks, particularly ASB, ANZ and WestpacTrust.

Rank

Sector


(all shares)

Net Funds Flow

1

Europe

$7.4m

2

Global

5.06

3

Australasia

4.28

4

Financial

2.19

5

Technology

2.02

While there are only two managers offering Australian based tax-effective funds many other managers spoken to by Good Returns are contemplating launching Australian funds.

Another interesting observation to come out of the Good Returns' OEIC survey is that most of the funds are sector based.

The eight funds in the Europe sector was the most popular with investors, attracting $7.4 million of net funds flow. It was followed by Global share funds and the two Australasian funds.

In total the two groups of funds had $811 million in assets under management at June 30. OEICs weighted in with $101.5 million and Australian funds totalled $709.6 million.

For more deatils of the survey email Good Returns' editor Philip Macalister

You can read Philip's blog here: http://www.goodreturns.co.nz/blog/

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ANZ Special - 4.25 4.29 -
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ASB Bank Special - 4.25 4.29 4.34
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BNZ - Mortgage One 6.25 - - -
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Credit Union Baywide 5.95 4.99 4.99 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
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Heartland 6.70 7.00 7.25 7.85
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Housing NZ Corp 5.55 4.69 4.75 4.89
HSBC Premier 5.75 4.19 4.19 4.49
HSBC Premier LVR > 80% - - - -
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HSBC Special - - 3.79 -
ICBC 5.60 4.39 4.69 4.99
Kiwibank 5.25 4.70 4.75 4.29
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Liberty 5.69 - - -
Napier Building Society 6.50 5.80 6.70 -
Nelson Building Society 6.10 4.85 4.99 -
NZ Home Loans 5.45 4.69 4.75 4.75
NZ Home Loans - Specials - - - -
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NZ Home Loans - Specials - 4.19 4.19 4.29
Perpetual Trust 7.70 - - -
Resimac 5.19 4.94 4.90 4.91
SBS Bank 5.54 4.75 4.89 4.99
SBS Bank Special - 4.25 4.15 4.55
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Sovereign Special - 4.25 4.29 4.34
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Westpac - Capped rates - 5.15 5.25 -
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