Morningstar says there’s no clear differentiating factor that makes high-performing KiwiSaver funds stand out. Its latest KiwiSaver survey, to June 30, showed returns bounced back after a tough start to the year. “Australian and New Zealand equities led the way, while the falling New Zealand dollar helped ensure solid global equity returns. As a result, …
Category Archives: KiwiSaver News
Pie Funds joins KiwiSaver market
Pie Funds is to launch a KiwiSaver scheme in just over a week. The scheme, called Juno, will go live on August 1. Documents have been lodged on the Disclose register, showing it will offer a conservative, balanced and growth fund. The balanced fund had an investment objective of returns of 5% to 10% per …
Group of AFAs tackles KiwiSaver problems
A group of financial advisers says big banks are using KiwiSaver to line their pockets. The group wants changes to the way default KiwiSaver schemes operate. The group is made up of John Cliffe, Phil Ison, Alistair Bean, Rachelle Bland, Michael Lay, John McLean, John Milner, Tony Walker and John Wood. The group wants all …
The employer’s conundrum
Why have so few employers chosen a preferred provider scheme? The March 2017 FMA KiwiSaver Annual Report showed that 20,004 employers have a preferred KiwiSaver scheme. As IRD records show that over 200,000 companies deduct PAYE, this suggests less than 10% of all employers have a preferred scheme. This is lower than was originally intended when KiwiSaver was …