Banks are hoping more guidance from the Financial Markets Authority will make it easier for them to advise their clients on switching between KiwiSaver funds and providers. In the FMA’s KiwiSaver report this month, it said there had been feedback from some providers that its KiwiSaver sales and advice guidance was getting in the way …
Category Archives: KiwiSaver News
KiwiSaver furore gave advice boost
Media headlines about KiwiSaver funds’ exposure to ammunition investments have provided a boost to some financial advisers. In August, there was a public outcry when it was revealed that a number of funds had underlying investments in companies that made armaments. While that prompted a spark of interest in the details of KiwiSaver investments, some …
KiwiSaver members almost triple their money
KiwiSaver members have gained about $2.50 for every $1 they have contributed to the scheme, Milford Asset Management data shows. The scheme is now nine years old. Individuals have invested $14 billion in their accounts over that time, but have $35 billion between them now. The $21 billion in gains is made up of $8 …
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Morningstar ‘neutral’ on Fisher
Fisher Funds’ KiwiSaver schemes have been rated a “reasonable option” by Morningstar. The research house has handed the provider a neutral rating for its schemes. It can award them gold, silver, bronze, neutral or negative. Analyst Elliot Lucas said there were “a couple of drawbacks” that stopped Fisher Funds’ conservative and growth funds from being …