Sir Michael Cullen: The man who helped New Zealanders make better financial decisions. Every now and then someone comes along who, in their lifetime, puts in place changes which touch not only everyone in their generation, but generations to come. Sir Michael Cullen is one such person. In 1898, the government of Richard Seddon introduced a means-tested “old age pension”. This pension was …
Category Archives: KiwiSaver News
CareSaver: Active management doing what it should
New KiwiSaver provider CareSaver is claiming a win for active, ethical management as its funds beat competitors through the Covid-19 market turbulence. Morningstar has released new data showing that on average, KiwiSaver conservative funds were down 2.98% in March, balanced down 8%, growth down 10.56% and aggressive down 11.91%. Over the three months to the …
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Covid withdrawals possible ‘but not always desirable’
KiwiSaver members are being told they may be able to withdraw their money to help them through tough financial times caused by Covid-19 – but the decision should be made carefully. Retirement Commissioner Jane Wrightson said it was understandable that many KiwiSaver members facing financial hardship were turning to their funds as a potential source …
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Is your KiwiSaver manager diversified?
Michael Lang looks at KiwiSaver asset allocation and discusses the benefits of diversification. Over the last decade New Zealand shares outperformed global shares by 120%. New Zealand shares now trade at a premium to their global counterparts. Whether your KiwiSaver manager favours local shares over international ones has been an important determinant of historic relative performance, and if history is any guide, it is …