|Dec 2019||Dec 2020||Mar 2021||Jun 2021||Sep 2021||Dec 2021|
|Wholesale funds from managed funds|
|Other registered superannuation||15,218||16,340||16,674||17,468||14,273||14,852|
|Unit trusts and GIFs||19,470||17,460||18,487||20,353||22,473||23,923|
|Wholesale funds from other sources|
|Registered superannuation funds||4,563||4,685||4,764||4,425||4,803||4,811|
|Other financial investment funds||25||1,282||77||247||-686||-1,624|
|Other financial institutions||455||3,056||2,823||2,908||2,433||1,124|
|Cross invested funds between wholesale trusts|
|Individually managed portfolios|
|Private wealth clients||27,882||34,452||35,289||36,930||38,198||39,814|
We have used statistical estimates to account for undercoverage in the December 2020 quarter data. We have rated forward data for each missing entity, based on December 2020 quarter data from entities included in the survey.
Collects the balance sheet of investment funds including the assets and liabilities, and funds managed by investment managers either by way of "pooling" funds or individually managing them.
Investments managers with total assets of more than $1 billion are surveyed quarterly and investment managers with total assets of less than $1 billion are surveyed annually.
The survey does not include funds from the New Zealand Superannuation Fund (NZSF) or Accident Compensation Corporation (ACC).
The survey was redesigned in 2014.
Data is released approximately two months after the reference quarter.
The Statistics Release Calendar provides a long-term plan of scheduled releases. It is updated and released on the first working day of the month.
View the Statistics Release Calendar.
Data are collected under Sections 36 and 93 of The Reserve Bank of New Zealand Act (1989).
The Reserve Bank publishes aggregated data. Individual institutional data is confidential.
Find out more about the Reserve Bank Act 1989.
Provisional data are italicised. Data are deemed provisional when a series is under review. New data, or revised data, are in bold font. This applies to the summary table only and not excel files. Revisions are generally published when a table is next due to be updated and released. Should revisions need to be made more promptly, a note is posted on the website. Any major changes in methodology are posted on the website as a note.
Data are collected by the Reserve Bank and shared with Statistics New Zealand for the purpose of Balance of Payments and the International Investment Position.
A copy of the survey template and definitions is available from our Surveys page.
Funds used to back policy holders' claims on life office companies offering life insurance and related annuities, as well as statutory funds.
All KiwiSaver schemes that are registered with the Financial Markets Authority (FMA).
Other (non-KiwiSaver) superannuation schemes that are registered with the FMA.
These include only financial investment funds i.e. funds whose assets are predominantly financial assets. Funds whose assets are predominantly direct holdings of property and infrastructure should are not included. However, funds that are predominantly holding shares or equity in property companies, rather than holding property directly, are included. Retail unit trusts and GIFs are the legal owner of the assets and issue units to the general public within New Zealand; and invest the pooled monies. They must have registered a prospectus with the New Zealand Companies Office, and some are listed on NZX. Retail unit trusts and GIFs exclude cash management trusts and wholesale trusts.
Unit trusts which are governed by a trust deed. These unit trusts can be either open or closed to the general public, and generally confine their investments (as authorised by the trust deed) to financial securities available through the short term money market. Cash management trusts issue units in the trust that are redeemable by the unit holder on demand. In this survey, cash management trusts include all trusts, both open to the general public and those that are not. Cash management trusts are money market funds (MMF) that typically invest in money market instruments with a maturity of less than one year only.
Restricted entry financial trusts, and are not open to the general public. These trusts are investment vehicles enabling institutional investors to pool their monies to invest in one or more underlying investments. Wholesale trusts are the legal owner of the assets, and investors own units in the wholesale trust. Wholesale trusts are classified as non-money-market funds (non-MMF) that typically invest in a wide range of instruments.
In an IMP, a client's funds are invested directly by the fund manager on their behalf rather than being pooled. Individually managed portfolios consist of two broad categories: private wealth funds and other IMP.
The household sectorincludes individuals, family trusts and estates.
Non-profit institutions serving households (NPISH) includes organisations that provide goods or services to their members, or to other households, without charge or at prices that are not economically significant. The two main kinds of organisations included are:
Examples of the types of entities classified as corporate business enterprises include:
These include sole proprietorships, small partnerships, and unincorporated businesses owned by the household sector.
Other financial investment funds include investment funds that pool investor's funds for investment in financial or non-financial assets. These include:
Other financial institutions include other financial institutions not included in ‘Registered banks' or ‘Other depository institutions'. Other financial institutions provide mainly financial services, including financial intermediation, financial risk management, liquidity transformation, and various supporting activities. These include:
The central government sector includes organisational units of central government responsible for functions such as taxation, law and order, defence, and those responsible for advancing the economic and social well-being of the country in other ways. Major subsectors are:
Note: State-owned enterprises (SOEs) are included in "Corporate businesses".
Local government consists of territorial authorities and regional councils, as well as other non-market units and non-profit institutions they control. They are responsible for functions such as town planning, providing local infrastructure, libraries, museums, and sports grounds.
Note: Market-orientated council controlled organisations are included in "Corporate businesses".
Wholesale trusts are restricted entry financial trusts, and are not open to the general public. These trusts are an investment vehicle enabling institutional investors to pool their monies to invest in one or more underlying investments. Wholesale trusts are the legal owner of the assets, and investors own units in the wholesale trust.
Not included in any of the sources above.
Consolidated assets are derived by eliminating any cross-investment that takes place between various types of institutions.
Unconsolidated assets include cross investments that take place between various types of institutions.
Cross invested assets are funds that are invested in other funds.
Closing values at the end of the quarter for investments in New Zealand resident issued assets. These include:
Closing values at the end of the quarter for investments in non-resident issued assets. These include:
These include ‘cash at bank', transferable deposits directly useable for making payments and fixed term deposits. Amounts are redeemable or withdrawable (with or without penalty) and are usually held with registered banks or other deposit taking institutions.
Loans (or receivables) are financial assets for the creditor with fixed or determinable payments that are not quoted in an active market (see paragraph 9 of NZ IAS 39).
Loans are financial assets that (1) are created when a creditor lends funds directly to a debtor, and (2) are evidenced by non-negotiable documents.
This category includes all loans and advances - except accounts receivable, which are treated as a separate category of financial assets - extended to various sectors by financial corporations, governments, and by other sectors.
Loans are borrowings which are not evidenced by the issue of debt securities. Placements are customers' account balances with entities not regarded as deposit taking institutions.
Loans do not include:
Debt securities are negotiable instruments serving as evidence of a debt. They can be bought or sold between two parties and have basic terms defined such as notional amount (amount borrowed), interest rate and maturity/renewal date.
Shares are referred to as equity and represent ownership of part of a company. In this survey shares are categorised as listed shares and unlisted shares. Listed shares are those that are listed on an exchange, while unlisted shares represent private ownership in a company or equity in a subsidiary or related company. Shares in foreign-companies (even though they may be trading in the NZX) are included as non-resident shares.
Listed shares comprise shares in companies quoted on an official stock exchange i.e. New Zealand Stock Exchange (NZX) or Australian Stock Exchange (ASX), etc.
Listed shares include:
Listed shares do not include:
Unlisted shares are not available for purchase or sale through a stock exchange.
Units in trusts are securities which are similar to equity but represent ownership of part of a trust rather than a company.
A derivative is a financial instrument linked to a specific 'underlying' financial instrument, indicator or commodity, through which specific financial risks can be traded in their own right. The relevant accounting definition of a derivative is in paragraph 9 of NZ IAS 39.
Derivatives are instruments that derive their value from an underlying asset, an index or reference rate.
Derivatives in a net asset position are contracts where the market value of the closing position is positive at the reporting date.
Derivative contracts can either be binding on both parties (as with a currency swap) or subject to the exercise by one party of a right contained in the contract (as with options).
All financial assets not already classified in one of the other instruments noted above.
Other financial assets include:
Other financial assets do not include:
Non-financial assets in this survey include all economic assets other than financial assets which do not represent claims on other units but are stores of value and provide benefits in the form of property income.
Non-financial assets include:
The Managed Funds Survey was redeveloped in 2014 to reflect changes in the managed funds industry and bring the statistics in line with international best practice.
Some statistics have been backdated to December 2003 using data from the old Managed Funds Survey. However, due to changes in the survey methodology and definitions some data may not be directly comparable.
In the old survey respondents were asked to "look through" investments in retail and wholesale trusts and report the underlying assets. For example a Kiwisaver investment fund that invested in a wholesale trust reported the assets that the wholesale trust then invested in.
In the new survey respondents do not "look through" investments in retail and wholesale trusts. For example a Kiwisaver investment fund that invests in a wholesale trust reports an investment in units in a wholesale trust. The investment manager that operates the wholesale trust reports the assets these funds are then invested in.
This has resulted in a series break in some assets types in June 2014.
In the old survey Cash Management Trusts were reported under Retail Unit Trusts. The new survey identifies investments in Cash Management Trusts separately. .
This has resulted in a series break in the assets reported under Retail Unit Trusts in June 2014.
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.
|0||Zero or value rounded to zero|
|light red background||Historical|