Simplicity cuts its fees for the six consecutive year and criticises other managers for not doing the same. Simplicity is cutting fees for all of its KiwiSaver and diversified investment funds by 13.8%, from 0.29% to 0.25%. The changes kick in on February 1 and this is the manager's sixth fee cut in six years. …
Category Archives: KiwiSaver News
Sharesies KiwiSaver, including self-select feature, goes to market
Sharesies has launched its KiwiSaver scheme to the general public having given access to its 31,000 wait-listed Sharesies members last week. Earlier this year a pilot group of 2,500 Sharesies customers and staff began trialing the scheme which lets members invest in five base funds – three growth options from Pathfinder, Smartshares and PIE funds …
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KiwiSaver – is consolidation on the cards?
KiwiSaver has finally hit a speed bump shrinking for the first time to end the September quarter at $96.2 billion. That’s down around $2 billion from June. This was entirely due to market movements and to be expected, says Morningstar data director of Asia-Pacific Greg Bunkall. “As a growing product, inflows have overshadowed outflow and …
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KiwiWrap KiwiSaver has highest average balance
With an average balance of more than $120,000, KiwiWrap is way ahead of other KiwiSaver providers, although it has under 300 members. Melville Jessup Weaver’s KiwiSaver market review for the year to March 2023 revealed the top ten providers for average balance size, with only one major bank making the leaderboard. The Consilium-owned KiwiWrap KiwiSaver …
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