Many KiwiSaver investors are choosing to leave schemes run by their banks, new research shows. For the year ended March 31, the five major banks collectively had 28,139 members transfer out of their KiwiSaver funds, which represented 58.7% of the number that transferred in. “The negative association between fund and member flows and the KiwiSaver […]
Category Archives: KiwiSaver News
AMP reviews fund composition
AMP has implemented changes to the make-up of its KiwiSaver funds in response to a review of its strategic asset allocation. The AMP KiwiSaver Scheme Default Fund will reduce its cash allocation and increase its holdings in New Zealand and global bonds. And AMP KiwiSaver Scheme non-Default members will now have a dedicated stake in […]
Lofty goals for savers: ANZ
More than 40% of people who want to have retirement income on top of NZ Super want at least $500 extra a week, ANZ’s latest Retirement Savings Confidence Barometer shows. For 20 years, that would require a lump sum at retirement of about $400,000. At the moment, more than half of pensioners survive solely on […]
Growth funds report strong returns
None of the KiwiSaver funds monitored by Morningstar have experienced negative returns over any of the one-, three- or five-year monitoring periods, which co-head of fund research Chris Douglas says has come as a pleasant surprise. Morningstar yesterday released its KiwiSaver Performance Survey to March 31. Douglas said the first quarter of the year had […]