Search Results for: kiwisaver

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…]

Milford Asset Management continued its climb up the KiwiSaver rankings with a growth-rate almost four-times the average during the March quarter. New figures from Australian researcher Plan for Life (PFL) show the Milford scheme jumped 13.6 per cent over the three months to March 31 compared to the mean growth-rate of just 3.5 per cent…. [Read More…]

The Inland Revenue Department (IRD) has mopped-up the remaining spillover from a KiwiSaver technical glitch that saw payments to up to 750,000 members delayed during a system transition last year. In a note to providers last week, the IRD confirmed the final tranche of ‘ex gratia’ payments – approved by Cabinet this February – would… [Read More…]

Kōura Wealth is lining up to compete against the likes of Booster, Generate and NZ Funds in the hotly contested insurance and mortgage adviser KiwiSaver market with a new part-owner and ‘facilitator’ fee model. Launched in 2019 as the first pure robo-adviser KiwiSaver scheme, Kōura has added a 0.3 per cent “facilitator” fee option following… [Read More…]

The Medical Assurance Society (MAS) is poised to open up its close to $1 billion KiwiSaver scheme to the wider retail market after earning a managed investment scheme (MIS) licence this month. Mike Davey, MAS chief member advocacy officer, said the mutual organisation planned to “begin public promotion of our retail KiwiSaver scheme from mid-June”…. [Read More…]

First Sentier Investors has opened up its long-established global listed infrastructure fund to the NZ retail market with the launch of a new regulated product last week. The Australian-headquartered manager, previously known as Colonial First State Global Asset Management (CFSGAM), has offered the listed infrastructure strategy in the NZ institutional market in various forms for… [Read More…]

Mercer has increased the environmental, social and governance (ESG) ingredients across its $2.4 billion KiwiSaver following a similar recipe change in the manager’s conservative fund late last year. In a release, Mercer says as well as including the usual range of ‘sin stock’ exclusions, the enhanced ESG approach would give more weight to companies driving… [Read More…]