Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Record Quarter For Net Funds Flow

ANZ Funds Management Announces Record Quarter For Net Funds Flow

ANZ Funds Management today announced that it had received an all time record retail net flow into its funds of NZ$103 million, for the quarter ending 30th June 2001.

ANZ Funds Management General Manager, Graham Duston, believed that there were a number of different reasons for this record quarter including a more sophisticated and educated investing public.

"Although we have had some very volatile investment markets over the last 12 months we are starting to find that both existing and prospective investors understand investment cycles better today. They tend to be more focused on their long term goals and strategies as opposed to short term market fluctuations," he said.

Mr Duston also stated that while ANZ has been effective in its own efforts to educate and inform clients, as well as providing solid returns for investors, a lot of the work done by the industry and financial commentators over the last few years had set the education frame work in place.

The record net funds flow was received across all product sectors and asset classes. Recent distribution initiatives within ANZ had involved developing and launching a mass-market proposition for its branch network to compliment its existing Financial Planner proposition. This had also been a strong contributor.

"Funds Management has traditionally been seen as something for people with a lot of money. Whilst we have a very strong Wealth Management programme in place, this new proposition compliments the existing programme and means that we can now offer a strong funds management proposition to most investors in New Zealand," Mr Duston said.



Table One

ANZ Funds Management Net Funds Flow by Asset Class

Fund $ million
Diversified 17,208,598
International Equity 15,657,526
NZ Equities 418,521
Fixed Interest 14,335,551
Property 105,500
NZ Mortgage 54,386,415
NZ Cash 1,733,868
Total 103,845,979

Table Two

ANZ Funds Management Net Funds Flow by Product Type

Product Type $ million
Unit Trusts 64,755,912
Australian Unit Trusts 26,080,195
Group Investment Funds 9,728,617
Superannuation Funds -5,751,840
Insurance Bonds 9,033,095
Total 103,845,979


© Scoop Media

Business Headlines | Sci-Tech Headlines


Manawatu-Whanganui Projects: PGF Top-Up To Rural Broadband Roll-Out

The government has effectively raided the $3 billion Provincial Growth Fund to top up the budget for the second phase of its rural broadband initiative, filling in mobile 'black spots' and ensuring broadband is available to marae that don't have access now. More>>


Other Windy Cities: Auckland-Chicago Named A Top 10 ‘Most Exciting’ New Route

The inclusion of Auckland-Chicago on Lonely Planet’s Where to fly in 2019? The 10 most exciting new flight routes list comes just two weeks before Air New Zealand prepares to celebrate its inaugural flight to Chicago’s O’Hare International Airport on 30 November. More>>

Deadly Strain: ESR Ups Its Reporting On Meningococcal Disease

The increasing number of cases of Group W Meningococcal disease (MenW) has prompted ESR to increase its reporting on the disease to the Ministry of Health. ESR has upped its reporting to weekly. More>>


Very Small Things: "Game-Changing" 3D Printing Technology Launched

New Zealand microfabrication researchers Andrea Bubendorfer and Andrew Best, the co-inventors of a new way of fabricating very small things with Laminated Resin Printing (LRP), are part of Callaghan Innovation’s MicroMaker3D team launching the new patent pending technology in the US this week. More>>