The Co-operative Bank is to start distributing Fisher Funds’ KiwiSaver products even though rival bank TSB is a shareholder in the fund manager. The Co-oeprative Bank chief executive Bruce McLachlan says KiwiSaver is now a core banking product that had to be added to its offering to customers. After looking at the various offerings in …
Category Archives: KiwiSaver Articles
Case leaves bankruptcy questions unanswered
There are calls for a law change to provide clarity on what happens to a KiwiSaver account when someone is declared bankrupt. The High Court recently ruled that bankrupts’ existing savings in a KiwiSaver scheme are available to be distributed by the Official Assignee to creditors, but only after the KiwiSaver member qualifies to withdraw …
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Another KiwiSaver scheme closes
The Law Retirement KiwiSaver Scheme (LRKS) which is managed by Diversified Wealth Management closed to new members on April 1. The scheme, for legal professionals, has two funds, with just over $5 million in funds under management and 382 members. Orginally Diversified was the adviser to the scheme but took over managing it around 18 …
Silver start for KiwiSaver scheme
ANZ Investments has received a silver rating for all of the multi-asset class funds in its three KiwiSaver schemes, from research house Morningstar. “ANZ Investments’ KiwiSaver schemes continue to set the standard for multi-sector investing in New Zealand…we believe they are among the best KiwiSaver options in New Zealand,” Morningstar says. ANZ Wealth managing director, …