KiwiSaver

KiwiSaver provider Summer has launched two new funds to complement its Summer Investment Selection and My Plan offers.

Summer Investment Committee chair Martin Hawes said the new funds would be known as the Summer Conservative Selection and the Summer Growth Selection. The Summer Investment Selection has also been renamed the Summer Balanced Selection.

“The new funds will provide a broader range of Summer KiwiSaver scheme multi asset class options, at different risk levels, for those who prefer to leave the investment selection to us rather than choose their own combination through My Plan,” Hawes said.

The Summer Conservative Selection will include more cash and fixed interest investments with fewer equity and property investments. Members can expect a fund with low to moderate levels of movement up and down in value. The Summer Growth Selection will focus on more equity and property investments, members can expect moderate to high levels of movement up and down in value and to receive longer-term returns that are higher than those of the Summer Balanced Selection.

Summer offers members the opportunity to design their own customised KiwiSaver accounts, known as My Plan. Alternatively, they can choose the Summer Conservative, Balanced or Growth Selection which are funds made up of a mix of cash, fixed interest, equity and property investment. The Summer Investment Committee provides a general investment view to support asset allocation decisions.

“We have members who are active with their KiwiSaver accounts through My Plan but we also have members who just leave it to us. Either way, we encourage members to take charge of their KiwiSaver accounts and to make sure that they are making the most of their money”, Hawes said.

 

Sir Stephen Tindall is lending his support to not-for-profit KiwiSaver scheme Simplicity.

The businessman and Simplicity founder Sam Stubbs announced $1.5 million had been invested in Simplicity via K1W1, the Tindalls' seed and venture capital fund.

Simplicity says it is one of the country's fastest-growing KiwiSaver funds, with more than 22,000 members.

The money will be used by Simplicity to pay off debt and grow the business.

Part of the would include the development of a roboadvice platform, probably delivered by phone app.

Tindall will also become patron of the Simplicity Charitable Trust, the charity governing the KiwiSaver scheme.

Tindall said his values were closely aligned with Simplicity's.

"We both want a better deal for New Zealanders. I'm delighted that we can help Simplicity grow, and that I can personally be involved."

 

Sir Stephen Tindall is lending his support to not-for-profit KiwiSaver scheme Simplicity.

The businessman and Simplicity founder Sam Stubbs announced $1.5 million had been invested in Simplicity via K1W1, the Tindalls' seed and venture capital fund.

Simplicity says it is one of the country's fastest-growing KiwiSaver funds, with more than 22,000 members.

The money will be used by Simplicity to pay off debt and grow the business.

Part of the would include the development of a roboadvice platform, probably delivered by phone app.

Tindall will also become patron of the Simplicity Charitable Trust, the charity governing the KiwiSaver scheme.

Tindall said his values were closely aligned with Simplicity's.

"We both want a better deal for New Zealanders. I'm delighted that we can help Simplicity grow, and that I can personally be involved."

 

NZ Funds announced today that its top rated KiwiSaver Scheme received an allocation of Lyft shares which listed on the Nasdaq on Friday 29 March 2019 and traded at a 21% premium to its issue price.

NZ Funds is thrilled to announce that investors in our KiwiSaver Scheme ¹, Superannuation Scheme and certain Managed Portfolio Service growth orientated portfolios received an allocation to Lyft at the issue price. 

NZ Funds believes that over the next ten years car ownership and transport will undergo a structural change because of transportation-as-a-service and that this may leave Uber, Didi and Lyft as three of the most valuable companies on the planet.

“If we told our clients twenty years ago that newspaper and television stations would become almost worthless, there would be a digital form of the yellow pages (Google) and that the company that enables people to trade photos of their grandchildren would be one of the most valuable in the world (Facebook), no one would have believed you” says Michael Lang, NZ Funds’ CEO.

“We think transport-as-a-service is a similar idea. Lyft started as a way for college students to share rides, while Uber was designed to enable people to rent an expensive “black car” and driver for a night. But the idea has now gone well beyond that. Last year in New Zealand alone, Uber completed 83 million transport kilometers, equivalent to travelling to the moon and back 108 times.” 

“When you factor in that the cost of car ownership, insurance, parking, fuel, environmental harm and congestion are all rising while the cost of transport-as-a-service is falling, you get a very profitable formula. We think it won’t be too long before families and individuals living in cities question why they need to pay so much to own two or three cars, especially as the average car is only used for around one hour a day, or 4% of the time.”

NZ Funds was able to research the ride share theme and secure shares in the Lyft IPO (which was significantly oversubscribed making it unavailable to many other investors) because of NZ Funds’ long-standing relationship with New York-based hedge fund billionaire, John Paulson.

“Twenty years ago, NZ Funds decided that despite having an award-winning track record in New Zealand equities ², we would build an expertise in global financial markets because we believed that the most reliable way to build and retain wealth over the long term was to invest both locally and internationally. Lyft is a great example of how our global expertise is benefiting our New Zealand clients twenty years later” Lang says.

NZ Funds is one of New Zealand’s longest-standing wealth management specialists, with a 30-year investment track record. NZ Funds works with over 100 independent financial advisers throughout New Zealand from seven nationwide locations. It offers advisers and clients market-leading services in KiwiSaver, UK Pension transfer, cash management and cashflow planned retirement portfolios. Independent financial advisers who work with NZ Funds recently gave NZ Funds a net promoter score of +48. NZ Funds is dedicated to helping New Zealanders make better financial decisions and leaving the world a better place.

 

1 – Top rated by Commission for Financial Capability for service on website Sorted with score of 99%.
2 – FundSource ranked NZ Funds, New Zealand Equity Income Trust top performing New Zealand equity manager 1998, 1999 and 2000.