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KiwiSaver drives managed funds lift

Growth in retail funds under management was concentrated in KiwiSaver funds in the first quarter of this year, FundSource research shows.

Friday, May 8th 2015, 12:12PM

Its Retail Managed Funds Industry Trends and Market Composition report for the March 2015 quarter shows KiwiSaver inflows of $987 million.

That was up from $949 million in the December quarter of 2014.

Total KiwiSaver inflows over the 12 months to March hit $4.2 billion, taking the net funds under management of KiwiSaver funds to $27.3 billion.

KiwiSaver funds now make up more than half of all retail net funds management at 52%, compared to 47% in March 2014.

Of the other product types, funds in New Zealand unit trusts fell by $0.5 billion in the year ending March 31.

Superannuation funds and Australian unit trusts also experienced net outflows, while Group Investment Funds remained stable. As at the end of the March 2015 quarter, New Zealand unit trusts, the second-largest product type, accounted for 38% of net funds under management. This was down from 40% in March 2014.

The five fund managers who experienced the largest inflows in the March 2015 quarter were: ANZ, BT (including Westpac), ASB (including Sovereign), Milford Asset Management and Fisher Funds.

 

Tags: FundSource KiwiSaver

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Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 4.55 3.19 3.19 3.49
AIA Special - 2.69 2.69 2.99
ANZ 4.44 3.15 3.25 3.85
ANZ Special - 2.65 2.75 3.35
ASB Bank 4.45 3.19 3.19 3.49
ASB Bank Special - 2.69 2.69 2.99
Bluestone 4.44 4.44 4.44 4.44
BNZ - Classic - 2.65 2.69 2.99
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 3.25 3.29 3.59
Lender Flt 1yr 2yr 3yr
BNZ - TotalMoney 4.55 - - -
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 4.75 4.75 -
Credit Union South 5.65 4.75 4.75 -
First Credit Union Special 5.85 3.35 3.85 -
Heartland 3.95 2.89 2.97 3.39
Heartland Bank - Online - - - -
Heretaunga Building Society 4.99 4.35 4.45 -
HSBC Premier 4.49 2.60 2.65 2.80
Lender Flt 1yr 2yr 3yr
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 3.99 2.58 2.68 2.79
Kainga Ora 4.43 3.29 3.39 3.85
Kiwibank 3.40 3.40 3.54 4.00
Kiwibank - Capped - - - -
Kiwibank - Offset - - - -
Kiwibank Special 3.40 2.65 2.79 3.25
Liberty 5.69 - - -
Nelson Building Society 4.95 3.45 3.49 -
Pepper Essential 4.79 - - -
Lender Flt 1yr 2yr 3yr
Resimac 3.49 3.45 3.39 3.69
SBS Bank 4.54 3.29 ▼3.19 ▼3.49
SBS Bank Special - 2.79 ▼2.69 ▼2.99
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The Co-operative Bank - Standard 4.40 3.29 3.29 3.89
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Westpac 4.59 4.15 4.09 4.49
Westpac - Offset 4.59 - - -
Westpac Special - ▼2.65 2.69 2.79
Median 4.55 3.22 3.22 3.44

Last updated: 3 July 2020 8:15am

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