Retail managed funds continued to appeal to investors in the December quarter, with an extra $253 million flowing into the sector.
Research company FundSource says KiwiSaver funds experienced the largest inflows for the quarter - reaching $424 million.
Unit trusts gained an extra $104 million.
The diversified sector continued to experience strong inflows, as did cash and fixed interest funds.
But FundSource says the mortgage sector continues to haemorrhage, with $232 million withdrawn during the quarter.
Group investment funds also declined, down $184 million on the previous quarter.
Overall, $19.5 billion was under management in the December quarter - up more than 6% from the previous quarter.
