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BT Funds Management ranked number one
MEDIA RELEASE
BT Funds Management ranked number one
FundSource has ranked BT Funds Management (NZ) Limited, the investment arm of Westpac, number one fund manager for its strong inflow of funds for the year ending September 2008
In its latest Retail Managed Funds Trends & Market Composition Report, FundSource figures reveal BT has experienced significant net inflows totalling $451.94M for the year. This also contributed to BT growing its market share to over 11% net funds under management by the end of September 08.
BT was also ranked number one for its Group Investment Funds in terms of funds under management, totalling $459.5m for the September 08 quarter
BT's largest net inflows were a total of $287.87m invested into the Westpac Cash Plus Trust (a Cash PIE fund) during the September 08 quarter. The Westpac KiwiSaver Scheme, which is managed and administered by BT, was ranked fourth for net funds inflows for KiwiSaver funds for the year ending September 2008.
BT's Chief Operating Officer, Fiona Oliver, said the FundSource report delivered a positive message about investing in managed funds. She said that in addition to choosing managed funds as an investment choice, it demonstrated that people were selective about requiring a strong fund manager to invest with.
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