KiwiSaver nudges $100b, Generate celebrates

Of 23 providers offering 282 products, average multisector category returns ranged from 1.2% for the conservative category (including default options) to 5.4% for the aggressive category.

Estimated annual fees for the period were $780 million, with a projected annual fee revenue estimate of 0.80% which is the same as last quarter.

There was no change in terms of market share for Q2 this year, although the top three continued to slip. ANZ led with 20.1% of the market (down from 20.6% last June) and more than $19.6 billion AUM. ASB was in second position with market share of 15.2% (down from 16% YOY) and $14.9b in assets. Westpac’s BT held third place with 10.3% market share (down from 10.6%) and $10.1b AUM.

Fisher Funds stayed in fourth place. Its market share increased from 7.8% to 8.4% over the year, while assets grew from $6.4b to $8.2b. Meanwhile in fifth place KiwiWealth, which Fisher acquired last year, lost market share (7.7% June last year to 7.2% June this year) but assets rose from $6.3b to $7b. Milford came in sixth at 6.9% of the market and AUM $6.7b. The six largest KiwiSaver providers accounted for approximately 68% of assets in the database.