Category Archives: KiwiSaver News

Fidelity Life has confirmed that it has done a deal to sell its KiwiSaver business to Grosvenor Financial Services which will also see it take an ownership stake in the company. Under the deal Grosvernor will assume management of the Fidelity KiwiSaver Scheme and will also work with it on other investment related business. Currently […]

Grosvenor says it has no comment to make on reports today that it has bought Fidelity Life’s KiwiSaver business. “You shouldn’t listen to rumours,” a spokesman said. It has been reported that a deal was done on Tuesday between the two businesses. Fidelity Life has $244 million in KiwiSaver FUM and bought the Tower life […]

More than 10,000 first-home buyers used their KiwiSaver savings to put down a deposit on a house in the year to March. That’s about twice the 5737 who did so in the year to March 2012. The total amount withdrawn from KiwiSaver accounts for first-home deposits was $120.2 million, eight times as much a was […]

The FMA still isn’t saying which two KiwiSaver schemes were asked to change potentially misleading statements to investors or face court action. But it has said why. The first fund reportedly had inappropriate disclosure of past investment performance and asset allocation disclosures contained in advertising material. The second had inappropriate disclosure of past investment performance […]