POWERED BY MOMENTUM MEDIA
New Zealand superannuation sees strong growth in 2011
The New Zealand Government's superannuation scheme KiwiSaver, which is run by external providers, saw funds under management rise by 38.3 per cent in 2011, according to Plan For Life data.
KiwiSaver FUM grew by 7.5 to $11.6 billion for the December quarter, despite "nervous underlying investment markets which were more often than not in negative rather than positive territory", according to Plan For Life.
Inflows into KiwiSaver for the December quarter fell by 47.7 per cent, but this was due to seasonal factors (September quarter inflows are boosted by Government co-contributions, according to Plan For Life).
The remainder of the New Zealand superannuation sector saw FUM fall by 1.2 per cent during the December quarter, and by 11.9 per cent for the entire 2011 calendar year. Mercer and AMP saw the smallest falls, with -0.8 per cent and -5.7 per cent drops respectively.
However, gross inflows into superannuation outside KiwiSaver climbed by 14.9 per cent in 2010, despite a 24.5 per cent decline in the December quarter.
New Zealand retail funds under management (FUM) grew by 3.4 per cent in the December 2011 quarter to $28.6 billion, replicating the growth in the same period in 2010.
Retail FUM rose by 6 per cent for the whole of 2011, and gross inflows in the sector were $7.6 billion for the year - up from $6.7 billion in 2010.
The biggest rise in retail FUM was experienced by Fisher Funds (up 40.8 per cent), Gareth Morgan (up 33.3 per cent), BT/Westpac (up 17.3 per cent) and ASB Group (up 17.2 per cent).
Unit trusts and managed fund FUM decreased by 6.7 per cent during 2010, and insurance and investment bonds were down 0.8 per cent.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
The super fund announced that Gregory has been appointed to its executive leadership team, taking on the fresh role of chief advice officer.
The deputy governor has warned that, as super funds’ overseas assets grow and liquidity risks rise, they will need to expand their FX hedge books to manage currency exposure effectively.
Super funds have built on early financial year momentum, as growth funds deliver strong results driven by equities and resilient bonds.
The super fund has announced that Mark Rider will step down from his position of chief investment officer (CIO) after deciding to “semi-retire” from full-time work.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
76.97 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
76.46 3 y p.a(%)
3
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
51.13 3 y p.a(%)
4
Global X GlobalX FANG+ ETF
45.15 3 y p.a(%)
5
Select Baker steel Gold Institutional
43.78 3 y p.a(%)
