KiwiSaver provider Summer has launched two new funds to complement its Summer Investment Selection and My Plan offers.
Summer Investment Committee chair Martin Hawes said the new funds would be known as the Summer Conservative Selection and the Summer Growth Selection. The Summer Investment Selection has also been renamed the Summer Balanced Selection.
“The new funds will provide a broader range of Summer KiwiSaver scheme multi asset class options, at different risk levels, for those who prefer to leave the investment selection to us rather than choose their own combination through My Plan,” Hawes said.
The Summer Conservative Selection will include more cash and fixed interest investments with fewer equity and property investments. Members can expect a fund with low to moderate levels of movement up and down in value. The Summer Growth Selection will focus on more equity and property investments, members can expect moderate to high levels of movement up and down in value and to receive longer-term returns that are higher than those of the Summer Balanced Selection.
Summer offers members the opportunity to design their own customised KiwiSaver accounts, known as My Plan. Alternatively, they can choose the Summer Conservative, Balanced or Growth Selection which are funds made up of a mix of cash, fixed interest, equity and property investment. The Summer Investment Committee provides a general investment view to support asset allocation decisions.
“We have members who are active with their KiwiSaver accounts through My Plan but we also have members who just leave it to us. Either way, we encourage members to take charge of their KiwiSaver accounts and to make sure that they are making the most of their money”, Hawes said.