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Another NZ fund manager joins the billion dollar club

New Zealand now has a dozen fund managers with at least a billion dollars under management, according to the latest FundSource report.

Monday, August 23rd 2010, 7:15AM

AMP Financial Services is still the country's biggest manager with $11.8 billion in total funds under management as at the end of the June quarter, leading ING New Zealand, the second biggest fundie including funds managed by ANZ and National Bank, by $4 billion. FundSource didn't name the new manager with more than a billion dollars under management.

Total funds under management sank 2.4% to $53.4 billion in the three months ended June 30, with all asset classes bar fixed interest falling. Fixed interest rose 5.6% in the quarter, and makes up 13.9% of total managed funds. Cash and mortgages is still the biggest asset class at 24.7%, and dropped 0.6% in the quarter.

 

KiwiSaver report the biggest gains in terms of client types, and is consistently growing at a quarterly pace of 1%, FundSource said.

 

Last month, FundSource research showed retail funds under management fell 2.5% to $19.67 billion.

« IFA rails against regulatory leviesKiwiSaver mismatch a 'huge challenge' for advisers »

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ANZ 5.19 4.05 3.95 4.49
ANZ Special - 3.55 3.45 3.99
ASB Bank 5.20 ▼3.89 ▲4.05 4.39
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BNZ - Classic - 3.55 3.45 3.99
BNZ - Mortgage One 5.90 - - -
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China Construction Bank Special - 3.19 3.19 3.19
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Credit Union Auckland 5.95 - - -
Credit Union Baywide 6.15 4.95 4.95 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 3.99 4.49 -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
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HSBC Premier 5.24 3.35 3.35 3.35
HSBC Premier LVR > 80% - - - -
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HSBC Special - - - -
ICBC 5.15 3.18 3.18 3.20
Kainga Ora 5.18 4.04 3.95 4.39
Kiwibank 5.80 ▼4.14 ▲4.30 4.64
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Kiwibank - Offset 5.15 - - -
Kiwibank Special - ▼3.39 ▲3.55 3.89
Liberty 5.69 - - -
Napier Building Society - - - -
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Pepper Money Near Prime 5.64 - 5.44 5.44
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Pepper Money Specialist 7.59 - 7.39 7.39
Resimac 4.50 4.86 3.89 3.94
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TSB Special 5.29 3.55 3.45 3.89
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