10% annual growth in KiwiSaver Funds Under Management
Rainmaker Information
New Zealand’s KiwiSaver scheme has grown from $112 billion to $123 billion in funds under management over the year to 31 March 2025, a growth of 10%.
The $11.2 billion growth was made up of $6.5 billion from investment earnings and $4.7 billion in net funds flowing into the pension scheme, according to the Rainmaker Information PFL New Zealand Report.
KiwiSaver is the dominant product sector in New Zealand, accounting for 58% of total retail funds under management and 40% of inflows.
Over the quarter to 31 March 2025 funds under management declined by $1 billion, a reduction of 0.81%.
The $1 billion quarterly change was made up of investment losses of $1.6 billion and fund inflows of $0.6 billion.
The three-year growth of funds in KiwiSaver sits at 37%.
Of the 28 major KiwiSaver providers, Milford Asset Management had the largest annual growth in dollar figures, up $2.4 billion for a 29.4% growth.
In percentage terms, Nikko Asset Management had the largest growth, with 228.8%, seeing funds under management increase from $26 billion to $84 billion.
The bulk of funds under management (around 88%) is held in multi-asset funds (balanced, growth and capital stable), roughly split 50% growth, 30% balanced and 20% capital stable.
$39.4 billion or 32% of KiwiSaver funds under management is held in default funds (default providers are selected when a member does not select a fund), which rose 9.1% over the year. This is slightly lower than overall market growth.
|
Company |
Mar-25 ($m) |
Mar-24 ($m) |
Annual Change ($m) |
|
Always-Ethical |
79.22 |
73.36 |
5.86 |
|
AMP NZ Group |
7150.23 |
6656.63 |
493.60 |
|
ANZ Investments |
21498.10 |
21031.85 |
466.25 |
|
ASB Group Investments |
18165.60 |
16640.08 |
1525.52 |
|
Booster |
5823.23 |
5245.87 |
577.36 |
|
BT / Westpac NZ Group |
11720.44 |
10987.49 |
732.95 |
|
Christian KiwiSaver Scheme |
97.82 |
97.82 |
0.00 |
|
FirstCape Group |
6254.42 |
5726.61 |
527.81 |
|
Fisher Funds Group |
17728.91 |
16911.14 |
817.77 |
|
Forsyth Barr |
335.17 |
323.63 |
11.54 |
|
FundRock NZ |
476.75 |
310.00 |
166.75 |
|
Generate |
6594.23 |
5307.89 |
1286.34 |
|
InvestNow |
373.99 |
243.79 |
130.20 |
|
Kernel Wealth |
357.91 |
162.27 |
195.64 |
|
kōura Wealth |
269.53 |
158.88 |
110.65 |
|
Maritime Retirement Scheme |
19.05 |
19.05 |
0.00 |
|
MAS |
1410.40 |
1309.75 |
100.65 |
|
Mercer NZ |
2694.10 |
2602.80 |
91.30 |
|
Milford Asset Management |
10569.72 |
8166.02 |
2403.70 |
|
Nikko Asset Management |
83.85 |
25.50 |
58.35 |
|
NZ Funds |
1079.04 |
986.14 |
92.90 |
|
NZX/Smartshares Group |
2860.85 |
2607.85 |
253.00 |
|
Pathfinder |
473.50 |
348.00 |
125.50 |
|
Pie Funds Management |
545.65 |
603.85 |
-58.20 |
|
SBS Wealth |
681.75 |
610.11 |
71.64 |
|
Sharesies |
287.01 |
135.91 |
151.10 |
|
Simplicity |
4944.97 |
4035.40 |
909.57 |
|
SuperEasy |
113.83 |
113.83 |
0.00 |
|
Other Companies |
485.00 |
540.00 |
-55.00 |
|
Total |
123174.2747 |
111981.52 |
11,192.75 |
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