ING has become the first KiwiSaver provider to hit the $1 billion mark in funds under management. ING head of KiwiSaver distribution David Boyle says the number of New Zealander’s that have joined KiwiSaver is much greater than was expected when KiwiSaver was first launched in 2007. “We’re rapt to have reached the $1 billion […]
Category Archives: KiwiSaver News
KiwiSaver fee disclosure needs to improve: Mercer
Mercer, the only default KiwiSaver provider without a distribution network, has reduced fees on its funds. It says the reduction is “in response to consumer demand for competitive pricing” and warns investors could be missing the point by focusing on the level of fees alone. Mercer’s New Zealand boss, Martin Lewington, says a lack of […]
Signing up children as KiwiSavers is about to get harder.
Family members will no longer be able to sign children up to KiwiSaver after refinements are made to the KiwiSaver scheme in the forthcoming tax bill. Currently anyone can sign-up a child under 18 to the retirement savings scheme, and once the child is working and earning an income, he or she has to contribute […]
Fisher Funds growth fund tops KiwiSaver survey
With returns of 15.2% in the quarter and 20.3% in the past 12 months, Fisher Funds was the best performer in the two growth categories. The annual median growth fund return was 1.2% with a quarterly return of 10.8%, according to the survey. “In the last six months balanced and growth funds have pegged back […]