Milford Funds Reports Strong Year

Milford Funds had a significantly better year ending March 31, with net profit surging 72.1% to NZ$19.5 million. Management fees increased by 18.7% to NZ$185.7 million, and performance fees soared to NZ$83.5 million after earning none the previous year. Despite higher profits, dividends paid were reduced to NZ$10.2 million from NZ$11.2 million.

The Milford Foundation received increased donations, totaling NZ$659,299, and additional goods and services worth NZ$573,956. Milford Private Wealth also saw a 6.2% rise in net profit to over NZ$2 million, with dividends up to NZ$1.7 million. Over the past decade, Milford's KiwiSaver growth, balanced, and conservative funds led their categories, though recent performance was mixed.

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