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 […]
Category Archives: KiwiSaver Articles
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, […]
Funds fees drop
KiwiSaver fees for the next round of default providers will be significantly lower than those charged at by the schemes at present, particularly for savers with smaller balances. The new nine default providers, assigned a seven-year term starting on July 1, are required to keep fees “reasonable”. Sources said the restrictions on default schemes’ fees […]
Fees still too high: Morningstar
KiwiSaver funds’ fees stand in the way of them being given a gold rating in Morningstar’s research, its Australasia co-head of fund research says. Morningstar has just finished its latest round of research, covering nine KiwiSaver providers managing the bulk of the country’s KiwiSaver funds. Chris Douglas said overall, New Zealanders should be optimistic about […]