Data revisions
25 August 2025
Revisions to the data this quarter cover the period from March 2022 to March 2025, to reflect improved coverage of the population, resulting in an upward adjustment of total funds under management by approximately $1.5b–$1.9b over this period.
Additional data revisions
26 August 2024
There have been further revisions to the September 2023 quarter data as well as revisions to the December 2023 quarter data. This is due to reporting discrepancies which have affected several tables related to the managed funds survey, including tables T40, T41, T43, and T47.
Data revisions
28 February 2024
There have been revisions to the September 2023 quarter data. This is due to reporting discrepancies which have affected several tables related to the managed funds survey, including tables T40, T41, T43, and T47.
Total funds under management revision for Dec 2022 quarter
31 May 2023
There has been a revision to the total funds under management figure for the Dec 2022 quarter due to a reporting improvement by a fund manager. The total funds under management reported as $251,501 in Dec 2022 quarter has been revised to $250,183.
Note on cross invested funds
27 May 2022
Discrepancies between the sum of reported values for Figures 2, 3 & 4 in our attached "Stats Insight" and the total funds under management reported in the T40 and "Figure 1" relates to the way in which we remove cross investment between funds. The consolidated totals of all funds, which are net of cross investment between different fund types sum to $257b. However due to limitations with our data systems we can only remove this at the total level, and not at a product level (i.e Kiwisaver) or at the asset class level (i.e Listed Shares). As such the sum of total funds by product or total funds by asset class is not equal to this figure as it is not net of cross invested funds.
Note on cross invested funds
25 February 2022
Discrepancies between the sum of reported values for Figures 2, 3 & 4 in our attached "Stats Insight" and the total funds under management reported in the T40 and "Figure 1" relates to the way in which we remove cross investment between funds. The consolidated totals of all funds, which are net of cross investment between different fund types sum to $264b. However due to limitations with our data systems we can only remove this at the total level, and not at a product level (i.e Kiwisaver) or at the asset class level (i.e Listed Shares). As such the sum of total funds by product or total funds by asset class is not equal to this figure as it is not net of cross invested funds.
Note on unit in trusts and wholesale clients
25 February 2022
Previously, one large provider reported cross invested funds in wholesale trusts in more than one category and from Q3 2021 this has been addressed causing a fall in unit in trusts and wholesale clients. Total funds under management are unaffected by this change.