The deepest recession in more than 30 years has failed to dent New Zealanders’ appetite for KiwiSaver, according to the latest update by the tax department. Over the past six months, some 190,000 New Zealanders have signed up to the government-sponsored retirement scheme, taking total enrolments to more than 1.1 million. The trend has mirrored […]
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KiwiSaver growth funds bounce back into positive territory
After a difficult 18 months KiwiSaver growth funds were the stand out performers in the quarter to June 30, 2009 producing a median return of 7.9% according to Mercer’s KiwiSaver Survey. The best performing growth fund over the quarter was the Mercer High Growth Fund (+12.2%), while the Fidelity Life Growth Fund was the best […]
Geared KiwiSaver fund offers bigger returns – and risks
Grosvenor has launched a new leveraged fund to complement its current range of four multi-sector portfolios. The Geared Growth Fund, which may be leveraged up to 50% of the net asset value of the fund, is aimed at those long term savers who are comfortable with using leverage to maximise investment returns, Grosvenor chief investment […]
White labelled KiwiSaver schemes under IRD spotlight
The Inland Revenue Department, which administers the government-sponsored superannuation scheme, is keeping an eye on distributors of KiwiSaver products to help avoid any confusion over where people’s money is being held. It has received feedback that some KiwiSaver account holders were confused as to where their money was kept if they signed up with companies […]