Pie Funds joins KiwiSaver market

Pie Funds is to launch a KiwiSaver scheme in just over a week.

The scheme, called Juno, will go live on August 1.

Documents have been lodged on the Disclose register, showing it will offer a conservative, balanced and growth fund.

The balanced fund had an investment objective of returns of 5% to 10% per year over a five-to-10-year period. The growth fund aims at 10% or more.

Directors of the scheme are Mike Taylor, founder of Pie Funds, Steven Nichols, Roy Knill, Roger Kerr, and Noah Hickey.

Juno magazine founder Jacqueline Taylor is an adviser to the board and Paul Gregory, formerly of the Financial Markets Authority, is head of investments.

Monthly charges are applied to the fund on a tiered basis, ranging from free for those with less than $5000 or who are aged under 18, through to $50 a month for investments between $100,000 and $1 million.

There is then an ongoing fee of 0.42% per year for all funds.

Pie Funds says responsible investment is taken into account in the investment policies and procedures of the scheme.