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More good news for funds

More evidence is emerging that money flows into managed funds are improving - although still modest in size.

Friday, February 2nd 2007, 6:55AM
FundSource says the funds covered by its research had a modest net inflow of $4.7 million in 2006 which is far better than the net outflows of $617.8 million in 2005.

"This is the first time that net fund flows on a rolling twelve month period have been positive since June 2002," FundSource general manager Binu Paul says.

“Moderate as it may be, it is definitely positive news for the industry, although we are nowhere near the trends of the late 90’s when annual net inflows were in the range of $1 billion dollars."

He says that the future looks better due to the changes to investment taxation and savings initiatives such as the KiwiSaver.

“KiwiSaver especially will create fundamental shifts in the savings mindset as there are very significant tax savings and investment benefits for all employees and employers alike. For a significant number of employees and employers the range of benefits will be very compelling to participate in Kiwisaver.

The turnaround in fund flow trends to positive territory was assisted by investor inflows in both the December and June quarters ($4.5m and $25.4m respectively). The recent improvement in fund flows can be attributed to a number of factors, including the strong returns managed funds have experienced over the past few years.

On a sector basis, investors preferred international fixed interest and New Zealand property over cash, diversified and global international equity.

Returns in the quarter assisted growth. With diversified balanced funds returning on average 3.1% for the quarter, while NZ share and property funds returned, on average, 8.6% and 7.9% respectively (net of tax and management fees).

ING, which includes ANZ the National Bank remains the largest manager with $4.82 billion, NZ Funds is second with $2.03 bill and ASB (including Jacques Martin) is next with $1.99 billion.

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 4.55 2.29 2.59 2.65
ANZ 4.44 2.89 3.25 3.39
ANZ Special - 2.29 2.69 2.79
ASB Bank 4.45 2.29 2.59 2.65
Bluestone 3.49 3.34 2.99 3.34
BNZ - Classic - 2.29 2.59 2.79
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 2.89 3.19 3.39
BNZ - TotalMoney 4.55 - - -
CFML Loans 4.95 - - -
Lender Flt 1yr 2yr 3yr
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.45 - - -
Credit Union Baywide 5.65 3.95 3.85 -
Credit Union South 5.65 3.95 3.85 -
First Credit Union Special 5.85 2.95 3.45 -
Heartland Bank - Online 2.50 1.99 2.35 2.45
Heretaunga Building Society 4.99 3.50 3.40 -
HSBC Premier 4.49 2.25 2.35 2.65
HSBC Premier LVR > 80% - - - -
HSBC Special - 1.99 - -
Lender Flt 1yr 2yr 3yr
ICBC 3.69 2.25 2.35 2.65
Kainga Ora 4.43 ▼2.67 ▼2.97 3.13
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 3.40 3.20 3.50 3.50
Kiwibank - Offset 3.40 - - -
Kiwibank Special 3.40 2.35 2.65 2.65
Liberty 5.69 - - -
Nelson Building Society 4.95 3.20 3.24 -
Pepper Essential 4.79 - - -
Resimac 3.39 3.35 2.99 3.35
SBS Bank 4.54 2.79 2.79 3.15
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 2.29 2.29 2.65
Select Home Loans 3.49 3.34 2.99 3.34
The Co-operative Bank - First Home Special - 2.09 - -
The Co-operative Bank - Owner Occ 4.40 2.29 2.59 2.79
The Co-operative Bank - Standard 4.40 2.79 3.09 3.29
TSB Bank 5.34 3.09 3.29 3.45
TSB Special 4.54 2.29 2.49 2.65
Wairarapa Building Society 4.99 3.55 3.49 -
Westpac 4.59 3.09 3.29 3.39
Westpac - Offset 4.59 - - -
Westpac Special - 2.29 2.69 2.79
Median 4.55 2.73 2.99 2.80

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