Swapping KiwiSaver default funds for “life stages” settings wouldn’t be in the best interests of investors or the scheme, oppponents say. Submissions to the government’s review of the default provider system have been mixed on the idea of adjusting default fund members’ asset allocation according to their age. Supporters include default providers OnePath and Mercer, which said […]
Category Archives: KiwiSaver News
KiwiSaver buyouts a challenge for advisers
The predicted consolidation in the KiwiSaver market is likely to produce more work for advisers. Speculation is brewing about the impending sale of Tower’s fund management business, including its $900 million KiwiSaver scheme. BNZ, which recently registered its own scheme, and Fisher Funds are among those touted as possible buyers. Meanwhile, TSB Bank – which […]
Bumper year for KiwiSaver growth funds
Impressive returns in equities and property have helped KiwiSaver growth funds achieve strong results in 2012, according to Morningstar’s latest KiwiSaver survey. In the 12 months to December 31 growth fund returns averaged 14.0%, well ahead of balanced funds (12.4%), moderate funds (9.7%) and conservative funds (including default options), which averaged 7.9%. The double-digit returns […]
BNZ registers KiwiSaver scheme
More than five years after KiwiSaver began, BNZ looks set to finally join the game. BNZ has long been the only major bank without its own KiwiSaver product and has instead offered the AXA KiwiSaver scheme to retail customers and the AMP KiwiSaver scheme to business clients. But it has now registered a KiwiSaver scheme […]