Financial advisers who raised concerns about KiwiSaver have been told a review of default provider arrangements will consider those issues – but not until next year. A group of AFAs, headed by John Cliffe, wrote to Commerce Minister Kris Faafoi, Finance Minister Grant Robertson, Reserve Bank Governor Adrian Orr and FMA chief executive Rob Everett. […]
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NZ Funds targeting clients’ points of pain
NZ Funds has launched a new pension transfer service with a difference: its nationwide UK pension transfer team are offering to do the transfer advice and processing free of charge, before passing the client back to their adviser to be advised within the context of their usual ongoing advice relationship. “Just over a year ago […]
A breach of trust? Private asset ownership in KiwiSaver
The recent announcement that the NZ Super Fund was considering investing in the Government’s proposed Auckland light rail networks has re-ignited calls for KiwiSaver to be used to fund local infrastructure investments. On the surface, the case for investment in long-term infrastructure assets appears compelling. Infrastructure projects are long-term, defensive investments that often come with monopolistic characteristics. […]
No clear reason for KiwiSaver success
Morningstar says there’s no clear differentiating factor that makes high-performing KiwiSaver funds stand out. Its latest KiwiSaver survey, to June 30, showed returns bounced back after a tough start to the year. “Australian and New Zealand equities led the way, while the falling New Zealand dollar helped ensure solid global equity returns. As a result, […]