Search Results for: kiwisaver

Kiwi Wealth has finalised its indexed-style default KiwiSaver fund arrangements, outsourcing most investment duties to Northern Trust Asset Management and BlackRock. A spokesperson said Kiwi Wealth had hired the quantitative specialist Northern Trust to implement its default fund global equities strategy while investing in an “off-the-shelf” BlackRock vehicle for international fixed income. The government-owned KiwiSaver… [Read More…]

New Inland Revenue Department (IRD) data has confirmed a sharp slowdown in the KiwiSaver market with net membership growth down over 20 per cent year-on-year. According to a just-released IRD report, the total KiwiSaver universe saw a net increase of about 70,000 members during the 12 months to June 30 compared to 88,660 in the… [Read More…]

In the last quarterly report before the looming default scheme shake-up re-jigs the league tables, Morningstar data shows recent KiwiSaver trends persist with large institutions slowly losing market share to challenger brands. The September quarter Morningstar KiwiSaver report reveals Milford Asset Management, in particular, as the stand-out growth player. Milford added 1.2 per cent to… [Read More…]

KiwiSaver has emerged as an increasingly competitive and cost-effective sector in a new Melville Jessup Weaver (MJW) study. “Using market share metrics, we find little evidence for a concentrated market; indeed, current trends point to a more diverse and competitive landscape within KiwiSaver in the near future,” the MJW report says. “Three new providers launched… [Read More…]

Most of the incoming default KiwiSaver providers have opted for a stripped-down asset allocation and a passive-bent to keep the new balanced default funds in a tight fee range. However, updated documents show a wide variance between default fund fees and regular balanced options across the providers with Kiwi Wealth and Booster, in particular, showcasing… [Read More…]

Auckland-headquartered investment firm Generate is to double its risk-weighted KiwiSaver fund suite to allow members to adopt more fine-tuned strategies in the coming 12 months. Generate chief, Henry Tongue, told the group’s online KiwiSaver conference last week that the $3 billion plus manager would launch three new funds to fill the risk gaps between the… [Read More…]

The numbers are in. KiwiSaver moved up another level during the 12 months to the end of March 2021 with strong growth in funds under management (FUM) adding some $20 billion to the collective savings pot. According to the just-released Investment News NZ KiwiSaver annual report – the 14th in the series – the 12-month… [Read More…]

Milford Asset Management continued to front-run the KiwiSaver market in the June quarter, adding about $560 million to funds under management while pipping BNZ as the seventh-largest provider, according to new figures from Australian researcher Plan for Life (PFL). The PFL survey shows Milford KiwiSaver ended the June 2021 quarter with almost $3.9 billion funds… [Read More…]

Australian-owned KiwiSaver schemes lost more than $1.2 billion in funds to other providers during the 12 months to March 31 this year with local boutiques sharing most of the spoils. Based on figures compiled by Investment News NZ, the top three Australian bank-owned KiwiSaver providers – ANZ, ASB and Westpac – plus AMP all reported… [Read More…]

Aon has put its KiwiSaver and employer master trust schemes on the block, according to industry sources. It is understood Aon has circulated an investment memorandum seeking interest in the group’s two schemes, which collectively manage about $920 million split between the $730 million KiwiSaver and $190 million master trust. The move represents the first… [Read More…]

Auckland-based investment administration pioneer MMC has broken through the $100 billion threshold, cementing its cornerstone position in the NZ financial services industry architecture. In a release, MMC said the group hit the $100 billion funds under administration (FUA) mark last week as both its core investment services and recent wealth management platform acquisition soared over… [Read More…]

Westpac has hinted at underlying investment changes ahead as the bank moves to slash fees on its almost $9 billion KiwiSaver scheme later this year. According to a Westpac spokesperson, the institution had “no [KiwiSaver investment] changes to announce at the moment, but will update the market as we prepare to implement the fee reductions… [Read More…]

The new BlackRock-managed AMP KiwiSaver index-style diversified funds come with an all-in fee of almost 0.8 per cent, just-filed scheme documents reveal. According to an AMP NZ spokesperson, the switch from AMP Capital to BlackRock as underlying manager for the firm’s diversified funds has seen fees “reduced significantly” while the cost “structure has been simplified… [Read More…]

The Medical Assurance Society (MAS) re-joined the retail KiwiSaver market late in June launching the revamped scheme with minor surgery to fee and asset allocation settings. Formerly a restricted scheme, the new open-to-all MAS KiwiSaver has cut fees on its conservative, moderate and balanced funds by 0.2, 0.15 and 0.05 per cent, respectively: all three… [Read More…]

A new financial advisory firm-run KiwiSaver scheme is set to launch with former AMP Capital multi-asset chief investment officer, Sean Henaghan, in charge of portfolio management. Henaghan, an ex-pat Kiwi stranded back home last year under COVID-19 border restrictions, returns to active duties as chief investment officer for Aurora Capital. Aurora Capital is the funds… [Read More…]

Auckland fintech firm, Invsta, has followed up its fund manager tech engagement checklist with another version tuned to the KiwiSaver market. Using the same traffic-light system as per the earlier fund manager offer published in May, the newly released KiwiSaver checklist helps providers rank their current technological status against “24 key functionalities”. The Invsta report… [Read More…]