Growth in retail funds under management was concentrated in KiwiSaver funds in the first quarter of this year, FundSource research shows.
Its Retail Managed Funds Industry Trends and Market Composition report for the March 2015 quarter shows KiwiSaver inflows of $987 million.
That was up from $949 million in the December quarter of 2014.
Total KiwiSaver inflows over the 12 months to March hit $4.2 billion, taking the net funds under management of KiwiSaver funds to $27.3 billion.
KiwiSaver funds now make up more than half of all retail net funds management at 52%, compared to 47% in March 2014.
Of the other product types, funds in New Zealand unit trusts fell by $0.5 billion in the year ending March 31.
Superannuation funds and Australian unit trusts also experienced net outflows, while Group Investment Funds remained stable. As at the end of the March 2015 quarter, New Zealand unit trusts, the second-largest product type, accounted for 38% of net funds under management. This was down from 40% in March 2014.
The five fund managers who experienced the largest inflows in the March 2015 quarter were: ANZ, BT (including Westpac), ASB (including Sovereign), Milford Asset Management and Fisher Funds.