Search Results for: kiwisaver

Launching a bitcoin fund amid a crypto-crash might seem like a case of bad timing but Kōura Wealth KiwiSaver founder, Rupert Carlyon, is unfazed. “I would feel far more comfortable buying bitcoin at $30,000 than when it’s $60,000,” Carlyon said. Bitcoin slumped to a low of about US$25,000 last week during a broad market sell-off…. [Read More…]

Digital-first investment firm, Kernel, has set a May go-live date for its just-established KiwiSaver scheme, joining an increasingly crowded space of niche start-ups in the sector. Founded only three years ago, Kernel’s move into KiwiSaver coincides with substantial across-the-board fee cuts and the launch of two new funds to bring its product suite up to… [Read More…]

Over 5 per cent of KiwiSaver members are remaining in-scheme post the official retirement age, according to a new analysis by consultancy firm Melville Jessup Weaver (MJW). The MJW study prepared for the Retirement Commission found about “153,000 members (5.2%) are aged over 65, and appear to be using KiwiSaver as an investment vehicle in… [Read More…]

Government needs to consult widely on any proposed changes to KiwiSaver settings, according to Mint Asset Management marketing head, David Boyle. Boyle said that mooted KiwiSaver reforms, including plans to link the annual member tax credit (MTC) to personal contributions, required input from industry and the public. However, many industry insiders suspect the government will… [Read More…]

The KiwiSaver market is likely to consolidate again as providers face up to profitability challenges, according to Morningstar director of manager research Asia-Pacific, Tim Murphy. Murphy said the long-term sustainability of some providers was doubtful in a relatively small market beset by intense regulatory fee pressure and limited growth opportunities. “It’s questionable if many of… [Read More…]

Early data from multi-choice KiwiSaver scheme, InvestNow, shows most members have diversified beyond a single manager while mixing active, passive and responsible investment options. InvestNow founder, Anthony Edmonds, said over two-thirds of the firm’s KiwiSaver scheme members have selected more than one underlying fund among the 35 available options. “On average our members have three… [Read More…]

AMP NZ has added four Milford Asset Management funds to its KiwiSaver and superannuation scheme menus just months after switching in-house products to BlackRock index strategies. In new scheme documents released last week, AMP lists the Milford Aggressive, Active Growth, Balanced and Conservative funds as options for its KiwiSaver and NZ Retirement Trust (NZRT) investors…. [Read More…]

Newbie KiwiSaver scheme, Aurora, has got off to a flying start with a first quarter haul of $40 million in sight. According to Aurora founder, Simon Rolland, the new scheme has signed on more than 1,500 members since it went live in October this year. “We’re looking at getting $40 million by Christmas,” Rolland said…. [Read More…]

The NZ Society of Actuaries (NZSA) has called for a national single source of statistical truth to back all retirement income claims along with uniform wording on decumulation strategies in KiwiSaver documents. In a new paper published last month, a group of retirement income specialists in the peak actuarial body argue the current fragmented approach… [Read More…]

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…]