Compensatory density-dependent (DD) processes play an integral role in fisheries management by underpinning fundamental population demographics. However, DD processes are often assessed only for specific life stages, likely resulting in misleading evaluations of population limitations. Here, we assessed the relative roles of intra- and inter-life stage DD interactions in shaping the population dynamics of perennial freshwater fish with demographically open populations. Specifically, we monitored populations of amphidromous banded kōkopu (Galaxias fasciatus), giant kōkopu (Galaxias argenteus), and shortjaw kōkopu (Galaxias postvectis) in five streams where migratory post-larvae are fished and in three no-take ("closed") streams located on New Zealand's South Island for two years. Using mark-recapture data, we investigated whether fishing altered densities of "small" (non-territorial recruits ≤1-year-old) and "large" (territorial fish >1-year-old) kōkopu size classes, and how subsequent density shifts affected the apparent survival and growth of each class while controlling for other confounding factors (e.g., habitat characteristics). We found that closed areas had substantially greater biomass of small kōkopu, particularly following the two-month fishing season. Despite this greater influx of recruits, there was no difference in the biomass of large kōkopu at the species level, or as a combined assemblage between stream types. This indicated that although fishing of post-larvae reduced recruit influxes into adult habitats, there was no subsequent evidence of recruitment-limitation within adult populations. Instead, kōkopu demographics were underpinned by intra- and inter-life stage DD competition and predation. Greater large fish densities played a key role in regulating the survival, growth, and/or presence of various kōkopu classes. In contrast, greater small fish densities had positive effects on the growth of opportunistic and insectivorous congeners, likely due to cannibalism and altered foraging behaviors, respectively. Our study details the prominent role of intra- and inter-life stage DD interactions in regulating the population dynamics of perennial migratory freshwater fishes, even in populations with inhibited recruit and juvenile availability. We emphasize the importance for fisheries management to implement recruitment dependencies and complex interactions between distinct life stages to avoid deleterious DD responses and ensure population persistence.
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