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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. ?p=407
fidelity life has $244 million in kiwisaver fum and bought the tower life insurance business in may.
It already has links to Grosvenor via TriMax, a life insurance joint venture.
Fidelity Life chief executive Milton Jennings could not be reached for comment. ?p=407
Many Camelot advisers deal with Grosvenor’s existing KiwiSaver scheme [?p=407] ?p=407, which has $191 million FUM.