Australian moves to limit retirees’ ability to withdraw their superannuation savings as a lump sum have prompted mixed reactions from New Zealand KiwiSaver providers. Australian Treasury executive director and chief operating officer John Lonsdale said recommendations from the financial system inquiry to overhaul the country’s superannuation scheme were likely to be adopted. A key finding […]
Category Archives: KiwiSaver Articles
Crowded KiwiSaver market sparks concern
The number of KiwiSaver providers in the New Zealand market may be unsustainable, the head of one of them says. Mercer NZ managing director Martin Lewington said he could imagine a future where KiwiSaver was offered by a few big providers with multi-sector portfolios. A few boutique businesses would then operate alongside, differentiating themselves with […]
Smaller players need to stand out
Smaller providers will have to differentiate themselves to stand out in a KiwiSaver market dominated by banks, an investment analyst says. Mark Weaver, of actuarial firm Meville Jessup Weaver Investments, said banks controlled 58.5% of the KiwiSaver market, not including ANZ’s OneAnswer scheme. There are 28 KiwiSaver providers, six of which are banks. He said […]
Complaint about ‘ambush marketing’
FMA is assessing a complaint about Milford Asset Management’s marketing activities. Fisher Funds boss Carmel Fisher says she is disgusted at Milford’s tactic of “ambush marketing” – using the Fisher brand name in a Google AdWords marketing campaign. Milford is believed to have paid to have had the Fisher Funds brand name as one of […]