The fees issue is just one of many around how to get the best out of KiwiSaver default funds, according to Savings Working Group member Paul Mersi. While the current default fund system isn’t up for review until 2014, the Green Party’s election policy of creating a “public option” default fund managed by the Guardians […]
Category Archives: KiwiSaver News
No implicit Govt guarantee with public KiwiSaver
There would be no implicit Government guarantee with a public KiwiSaver fund, the Green Party says. “Our proposal to offer a public KiwiSaver fund to lower costs and fees does not come with any Government guarantee,” Green Party Co-leader Russel Norman said. “If any KiwiSaver provider went broke, the Government may have to respond as […]
KiwiSaver not too big for sharemarket (yet)
Fears that KiwiSaver could swamp New Zealand’s small stock market are a long way from being realised, according to new research on the sector. Morningstar’s Sector Wrap, which shows Australian-invested funds didn’t have a great year, also shows that, while it is growing fast, KiwiSaver is far from being big enough to cause pricing distortions […]
Bubbles could attract KiwiSaver fly-by-nighters
Market bubbles caused by low interest rates could see speculative KiwiSaver schemes set up to lure unwary investors, Tower Investments chief executive Sam Stubbs warns. At the Tower Investments quarterly media briefing today, Stubbs said governments were engaging in “financial repression” by keeping interest rates artificially low. While this tactic gave the governments more “headroom” […]