A working group has already begun to look at ways that KiwiSaver fees could be reported with more transparency. There has been criticism raised over many providers’ habit of displaying fees as a percentage or basis point calculation, rather than a dollar amount. CFFC group manager of investor capability David Boyle said there was clear […]
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Simplicity open for business
New low-fee KiwiSaver provider Simplicity has started accepting enrolments. “The platform has been thoroughly tested, and has passed with flying colours. It’s now fully functioning, industrial strength and ready to make Kiwis richer in retirement,” said managing director Sam Stubbs. He said customer demand had been strong. “We’ve already reached our 12 month targets. Thousands […]
KiwiSaver puts squeeze on
Flows of KiwiSaver money into New Zealand equities are putting pressure on the market and could make it hard for managers to cash out if they want to, it has been claimed. Sam Faulkner, of Russell Investments, has written a report looking at the rapid growth of KiwiSaver assets and their effect on the New […]
KiwiSaver members lack knowledge on fees
Most New Zealanders are clueless about KiwiSaver fees and not much better informed about their funds’ performance, a new survey has shown. The survey was released by the Commission for Financial Capability and the Financial Markets Authority. It found fewer than half of the respondents knew even roughly what they were paying in fees and […]