tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Friday, April 3rd, 11:04AM

Investments

rss
Latest Headlines

KiwiSaver enters Reserve Bank stats with style

KiwiSaver was the only managed fund sector to grow in the three months to September this year, according to new figures published by the Reserve Bank.

Friday, December 5th 2008, 5:57PM

by David Chaplin

The latest Reserve Bank managed funds survey put total KiwiSaver funds under management at almost $1.8 billion at the end of September compared to just over $1 billion at June 30, 2008.

Over the same three-month period superannuation funds under management, other than KiwiSaver, fell by almost $1.3 billion to $18.6 billion and had shrunk by close to $4 billion in the 12 months to the end of September 2008.

The Reserve Bank figures also showed over the September quarter: life insurance funds dropped from $8 billion to $7.9 billion; unit trusts and GIFs were down almost $800 million, and; other managed funds (including charities and private funds) holding steady at about $16 billion.

In total, New Zealand’s managed fund sector had declined by almost $1.5 billion in the three months since June this year and was off by approximately $8 billion from the high point of $66.4 billion under management as at September 2007.

The Reserve Bank figures show KiwiSaver funds have invested roughly 60% in New Zealand assets with the rest offshore. Almost half of the KiwiSaver funds were invested in New Zealand cash and fixed interest assets with only $142 million placed in local equities and unit trusts with a further $79 million put into property.

The $700 million invested globally by KiwiSaver funds was not broken down by asset class in the Reserve Bank figures.

The Reserve Bank included KiwiSaver funds for the first time in the September managed funds survey. The report excludes KiwiSaver schemes with less than $500 million under management, however, the Bank said its statistics cover 95% of the market.

.

« KiwiSaver changes more workKiwiSaver-lite gets green light »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
  • Covid withdrawals possible 'but not always desirable'
    “Just signing in to agree with @richardjames....”
    3 hours ago by Denis
  • Covid withdrawals possible 'but not always desirable'
    “Murray et al The following is an email I sent to Grant Robertson 10 days ago... Hi Grant Firstly, well done to you and...”
    6 hours ago by Richard James
  • Advisers 'will drop out'
    “@gavin austin - actually our focus is on getting Advisers to ask their existing customers "What can we do to help you?"...”
    17 hours ago by Andrew Scott GM Newpark
  • Advisers 'will drop out'
    “Interesting comments Andrew. I take it from your comment about Dgs being worth their salt that you've provided your members...”
    19 hours ago by gavin austin adviser business compliance
  • AML flexibility offered
    “AML flexibility is great and well received. What are the law society and the JP organisation doing to find ways to reduce...”
    20 hours ago by Tony Walker
Subscribe Now

News and information about KiwiSaver

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 4.55 3.55 3.89 3.99
AIA Special - 3.05 3.39 3.69
ANZ 4.44 3.55 3.85 4.49
ANZ Special - 3.05 3.35 3.99
ASB Bank 4.45 3.55 3.89 3.99
ASB Bank Special - 3.05 3.39 3.69
Bluestone 4.44 4.44 4.29 4.34
BNZ - Classic - 3.09 3.35 3.69
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 3.75 4.10 4.55
Lender Flt 1yr 2yr 3yr
BNZ - TotalMoney 4.55 - - -
China Construction Bank 5.50 4.70 4.80 4.95
China Construction Bank Special - 3.15 3.15 3.19
Credit Union Auckland 5.95 - - -
Credit Union Baywide 5.65 4.75 4.75 -
Credit Union North 6.45 - - -
Credit Union South 5.65 4.75 4.75 -
Finance Direct - - - -
First Credit Union 5.85 3.99 4.49 -
Heartland 3.95 2.89 2.97 3.39
Heartland Bank - Online - - - -
Lender Flt 1yr 2yr 3yr
Heretaunga Building Society 4.99 4.35 4.45 -
HSBC Premier 4.49 2.95 3.09 3.50
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 5.15 3.18 3.18 3.20
Kainga Ora 5.18 3.94 4.08 4.39
Kiwibank 4.40 3.84 4.14 4.40
Kiwibank - Capped - - - -
Kiwibank - Offset 4.40 - - -
Kiwibank Special - 3.09 3.39 3.65
Liberty 5.69 - - -
Lender Flt 1yr 2yr 3yr
Napier Building Society - - - -
Nelson Building Society 4.95 ▼4.09 4.15 -
Pepper Money Near Prime 5.64 - 5.44 5.44
Pepper Money Prime 5.18 - 4.98 4.98
Pepper Money Specialist 7.59 - 7.39 7.39
Resimac 4.50 4.45 3.89 3.94
RESIMAC Special - - - -
SBS Bank 4.54 4.85 5.05 5.49
SBS Bank Special - ▼3.09 ▼3.39 ▼3.69
The Co-operative Bank - Owner Occ 4.40 3.25 3.45 3.69
The Co-operative Bank - Standard 4.40 3.75 3.85 4.19
Lender Flt 1yr 2yr 3yr
TSB Bank 5.34 3.89 4.15 4.49
TSB Special 4.54 3.09 3.35 3.69
Wairarapa Building Society 4.99 3.95 3.99 -
Westpac 4.59 4.15 4.09 4.49
Westpac - Offset 4.59 - - -
Westpac Special - 3.09 3.39 3.69
Median 4.60 3.65 3.89 3.99

Last updated: 31 March 2020 8:55am

News Quiz

The maximum remuneration model for Australian life insurance advisers is to be set at what?

Upfront 40% + trail 20%

Upfront 50% + trail 10%

Upfront 50% + trail 20%

Upfront 60% + trail 10%

Upfront 60% + trail 20%

MORE QUIZZES »

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com