Retail investment funds under
management for New Zealand fund managers totalled $14.06 billion for the year ended 30
June 1998, with a further $1.37 billion attributed to New Zealand-based investment in
Australian Unit Trusts.
The net inflow of $561 million for the year to 3 0 June 1998 was down on the $684
million recorded for the previous June year. Unit Trusts brought in another $652 million
but this was balanced by outflows in both Group Investment Funds (GIFS) and Insurance
Bonds.
Retail Superannuation Funds saw another $159 million coming in over the year but
Insurance Bonds lost $204 million, with their share of retail managed funds dropping from
19 per cent to 16.7 per cent in the year to 30 June 1998.
