KiwiSaver providers should tell clients about exposures to Silicon Valley Bank and Signature Bank and put them in context to restore confidence. Investment advisor Chris Douglas of My Fiduciary says KiwiSaver fund managers have an obligation to provide full and frank disclosure to investors and even prospective investors. His comments come in the wake of […]
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Milford embraces technological advice and transparency as part of third party Kiwisaver growth
In 2007, Milford Asset Management entered its retail phase, originally built on a network of direct clients. It has steadily established a following among third-party advice businesses and recently have switched to multi-channel distribution. Despite having a multi-channel distribution strategy prior to joining, Milford head of intermediary distribution Michael Robson says his role four years […]
KiwiSaver managers making “excessive profits”
Simplicity cuts KiwiSaver fees and complains other managers are charging too much. KiwiSaver manager Simplicity has made a 3.3% total fee cut across its conservative, balanced and growth KiwiSaver funds and diversified investment funds. The new total fund charge will be 0.30%, effective April 1. The fee cut is the fifth in five years. Simplicity […]
Call for simple KiwiSaver benchmarks to replace ‘Frankenstein constructs’
KiwiSaver benchmarks, while fulfilling a government mandate, don’t serve much purpose, a new study says. While the first part of Russell Investment NZ’s research, released last year, focused on institutional benchmarking practices, the second considers KiwiSaver. It concludes that most benchmarks are composed of a hodgepodge of unrecognisable underlying fund benchmarks providing little relevant information […]