BT, AMP bleed retail funds while Milford takes lion's share

BT, AMP bleed retail funds while Milford takes lion's share
AMP's market share of both retail and wholesale managed funds fell to 5.9% in the June quarter. (Image: Deposit Photos)
Jenny Ruth
AMP, AMP Capital and BT including Westpac are bleeding retail funds and losing market share in the New Zealand funds management industry while Milford Asset Management snagged more than half the net new retail investment inflows in the June quarter.That's according to the latest data from Zenith Investment Partners (formerly Fundsource).The data showed BT, which is owned by Westpac, suffered the largest retail funds outflow of $290.2m in the June quarter when the industry as a whole enjoyed a $2.64 billion net funds inflow in the latest thr...

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