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 […]
Category Archives: KiwiSaver News
KiwiSaver boosting property sales
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 The total amount withdrawn from KiwiSaver accounts for first-home deposits was $120.2 million, eight times as much a was […]
KiwiSaver schemes under scrutiny
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 […]
‘Good response’ to clear KiwiSaver explanation
OnePath has had a positive response to its “plain English” KiwiSaver investment statement, says ANZ’s head of wealth and private banking, John Body. He said there were a number of people with KiwiSaver accounts who could not explain exactly how the system worked. ‘ Many people who received the OnePath document responded well to the […]