NZ Household Savings: Good News and Bad News
Total household financial assets now stand at $83.345 billion as at June, 1999 according to Reserve Bank figures released recently. The measure of household financial assets includes household investment in the bank deposit sector and in managed funds. Analysis of the data produces several significant findings:
Managed Funds growth not outstanding
Despite private sector research companies trumpeting significant increases in funds inflow into retail managed funds, overall the managed funds sector (including wholesale and retail) grew by only 1.8 per cent for the quarter. This increase includes both market gain and fresh funds flow. The managed funds sector now stands at $41.034 bill, up from $40.269 bill in the March Quarter, an increase of $765m.
While this is a reasonable increase, it is less than that achieved in some previous quarters (Dec-96: 2.3%; Jun-97: 5.5%; Sep-97: 3.8%).
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