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 […]
Category Archives: KiwiSaver Articles
KiwiSaver popularity brings attention to ‘second-order’ problems
Former deputy prime minister and finance minister Sir Michael Cullen says the need for an annuity provider to help KiwiSaver members manage their lump sums on retirement is another sign of the scheme’s success. He recently joined the board of the Retirement Income Group (RIG). RIG manages New Zealand’s only variable annuity, Lifetime Retirement Income. […]
Simplicity’s growth fund posts early success
KiwiSaver provider Simplicity’s managing director Sam Stubbs says his funds’ first reported performance data are like “winning a bronze medal in your first event” despite a poor showing from its conservative fund. Morningstar has released its KiwiSaver survey for the December quarter. Kiwi Wealth’s growth fund was a standout performer, thanks in part to its […]
KiwiSaver quake moves spark warning
Government is making it easier for earthquake-affected KiwiSaver members to withdraw their money if they suffer financial hardship – but one adviser is warning it is not a good idea. Commerce Minister Paul Goldsmith announced this week that he had asked KiwiSaver scheme supervisors to expedite requests for early withdrawals for earthquake-affected people. “I also […]