BNZ has announced it will drop its investments in companies involved in the production of cluster munitions, anti-personnel mines, nuclear weapons and tobacco or tobacco products. Its new responsible investment policy was announced on Thursday. “In the last three-and-a-half years our funds under management have grown from $1.5 billion to almost $4 billion today, so […]
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KiwiSaver transfer lags a concern
There are calls to streamline the process of transfers between KiwiSaver schemes, to reduce the burden on providers and members. KiwiSaver transfers are in the Financial Markets Authority’s sights. It has requested information from all providers about transfers in the last quarter of last year, broken down to the number of days a transfer took […]
KiwiSaver feels hit of rising interest rates
2016 drew to an unpleasant close for many KiwiSaver funds, Aon’s latest industry survey shows. In the December quarter, only cash funds posted a uniformly positive return. Across all the other fund types, most funds went backwards over the three months – although balanced, moderate and conservative funds were the most affected. Over the quarter, […]
Low-cost model better for advisers: Simplicity
Fund managers charging high fees for their products have kept a lid on what advisers can earn, Simplicity’s managing director said as the provider launched its first non-KiwiSaver funds. Simplicity has unveiled plans to branch out into the wider investment funds sector. Its KiwiSaver scheme, launched last year, has $100 million under management. The funds […]