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ASB tops FundSource rankings

ASB overtook AMP in net funds under management in the March quarter, Fundsource’s Retail Managed Funds: Industry Composition and Trends report shows.

Thursday, May 15th 2014, 6:00AM

Twenty-eight fund managers were included in the survey.

They had a total net funds under management of $42 billion. That was up 22.5% on the previous March quarter.

KiwiSaver funds made up 46% of the total net funds under management. They grew by about 6% over the quarter, to just over $19 billion.

Unit Trusts contributed 41% of the net funds under management, up 3.5% on the previous quarter.

A Fundsource spokesman said it was likely that KiwiSaver’s dominance would continue to grow.

BT, including Westpac, had a strong quarter, with net funds under management increasing sharply. It reported an inflow of $296.3 million.

AMP, which dropped to third in the rankings, had inflow of $18.17 million, the spokesman said.

The rest of the $42 billion under management in the report was comprised of group investment schemes, superannuation funds, insurance bonds and Australian unit trusts.

The total contribution of KiwiSaver and Unit Trusts increased year-on-year by 3%.

The top five fund managers based on net funds under management were ASB, including Sovereign, ANZ Investments, AMP, BT, including Westpac, and Kiwibank.

A year ago, AMP was the top fund manager.

The next four fund managers in the quarter were Fisher Funds, Milford, Mercer and Russell Investment.

Fisher Funds’ net funds under management almost doubled between March 2010 and March 2014.

Milford’s increased from $92 million to $2 billion over the same period.

During the March 2014 quarter, NZ Diversified contributed to 58% of the total NFUM, followed by NZ Cash which contributed 22% and Australasian Equity’s contribution of 7%.

The industry experienced inflows of $1 billion in the quarter ending March 2014. December 2013 was $1.2 billion.

BT had the highest inflows of $1.4 billion for year ending March 2014, almost doubling those of the year ending March 2013. Tyndall had the highest outflows of $21.8 billion. KiwiSaver had the highest inflows of $0.8 billion. The fund with the highest inflows was Westpac Online Bonus Saver PIE, followed by ASB Kiwisaver Conservative Fund.

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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 ▼3.29 ▼3.45 ▼3.85
ANZ Special - ▼2.79 ▼2.95 ▼3.35
ASB Bank 4.45 ▼3.35 ▼3.19 ▼3.85
ASB Bank Special - ▼2.85 ▼2.69 ▼3.35
Bluestone 4.44 4.44 4.29 4.34
BNZ - Classic - ▼2.79 ▼2.69 ▼2.99
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 ▼3.39 ▼3.29 ▼3.59
Lender Flt 1yr 2yr 3yr
BNZ - TotalMoney 4.55 - - -
China Construction Bank 5.50 4.70 4.80 4.95
China Construction Bank Special - 2.80 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 ▼2.80 ▼2.89 3.50
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC ▼4.40 ▼2.95 ▼2.95 ▲3.69
Kainga Ora 4.43 3.55 3.85 4.14
Kiwibank 4.40 3.74 4.14 4.40
Kiwibank - Capped - - - -
Kiwibank - Offset 4.40 - - -
Kiwibank Special - ▼2.65 ▼2.79 ▼3.25
Liberty 5.69 - - -
Lender Flt 1yr 2yr 3yr
Napier Building Society - - - -
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Pepper Essential 5.18 - 4.98 4.98
Resimac 3.49 3.45 3.39 3.69
RESIMAC Special - - - -
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SBS Bank Special - 2.99 3.05 3.69
The Co-operative Bank - Owner Occ 4.40 ▼2.79 ▼2.95 ▼3.39
The Co-operative Bank - Standard 4.40 ▼3.29 ▼3.45 ▼3.89
TSB Bank 5.34 ▼3.59 ▼3.79 ▼4.19
TSB Special 4.54 ▼2.79 ▼2.99 ▼3.39
Lender Flt 1yr 2yr 3yr
Wairarapa Building Society 4.99 3.95 3.99 -
Westpac 4.59 4.15 4.09 4.49
Westpac - Offset 4.59 - - -
Westpac Special - ▼2.79 ▼2.79 3.39
Median 4.55 3.37 3.45 3.69

Last updated: 27 May 2020 8:50am

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