Nikko reports strong retail growth

Nikko Asset Management New Zealand’s assets under management has topped $5 billion.

Friday, May 20th 2016, 1:31PM

That is up from $4 billion in December 2014, an increase of 25%.

Retail investment now exceeds $1 billion, more than twice its level in December 2014.

“We’re pleased to see our efforts to grow our share of the intermediated retail market continuing to deliver, and to be able to provide an increasing number of retail investors with access to our investment approach,” said George Carter, managing directro of Nikko Asset Management New Zealand.

Morningstar ranked Nikko as number one for fund flows for the retail investment market excluding KiwiSaver for the year to March 31.

Nikko has been engaging with AFAs through seminars that provide professional development credits.

AFAs are retail clients’ only way of accessing Nikko funds.

Other key drivers of growth in AUM are at the institutional level.

New clients included a mandate to manage private health insurer nib New Zealand’s investment funds of over $100 million, following a competitive review process in June 2015.

“At the asset class level, NZ Fixed Income has experienced particularly strong growth, which reflects the market’s view of our Fixed Income team’s track record and investment approach. Investor interest in funds focused on domestic equities is also growing, alongside interest in domestic fixed income,” Carter said.

Nikko Asset Management NZ is now the largest asset manager in New Zealand that is not part of a default KiwiSaver provider group.

Tags: Nikko AM

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