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 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.
Many Camelot advisers deal with Grosvenor’s existing KiwiSaver scheme, which has $191 million FUM.