Search Results for: kiwisaver

The Consilium KiwiSaver scheme has squeaked into the 2020 launch zone after gaining formal approval from the regulator in December. In documents lodged with Disclose last week, a letter from the Financial Markets Authority says that regulator “certifies that it is satisfied that the KiwiWRAP KiwiSaver Scheme, as constituted by the trust deed dated 4… [Read More…]

Nikko Asset Management has added the high-flying Ark Disruptive Innovation Fund as a standalone option in its KiwiSaver scheme. George Carter, Nikko NZ chief, said the move provided more flexibility for KiwiSaver investors looking to build portfolios beyond the standard vanilla approach. Carter said the Ark fund was now the most popular offering on Nikko’s… [Read More…]

Another KiwiSaver provider is poised to enter the fray this week, bringing the population up to 35 schemes. To be offered via the Select Wealth brand, part of the Investment Services Group (ISG) family, the new scheme, however, will be issued under the NZX-owned Smartshares managed investment scheme (MIS) licence – a first-of-its-kind ‘hosting’ arrangement… [Read More…]

Kiwi Wealth has hired Gordon Pfeiffer as head of KiwiSaver. Pfeiffer took up the newly created role in July, joining the Wellington-based operation from the Todd Family Office, where he was head of product and service support for three years. Pfeiffer fills the spot at Kiwi Wealth that previously fell under the head of product… [Read More…]

The Financial Markets Authority (FMA) has highlighted its right to issue ‘stop orders’ to KiwiSaver schemes that breach fee standards in a new consultation document released this morning. In a follow-up to its ‘value for money’ report published earlier this year, the regulator says stop orders could, for example, “prevent schemes with unreasonable fees from… [Read More…]

Fisher Funds has moved significantly closer to claiming the title of fourth-largest KiwiSaver provider from AMP during the nine months to September 30 – just by staying still. According to the latest Morningstar report on the sector, Fisher saw its KiwiSaver market share dip just 0.1 per cent over the nine-month period ending September at… [Read More…]

The final shape of the new default KiwiSaver universe will emerge by May next year under a government timetable released last week. In a KiwiSaver provider briefing panel held last Friday, the Ministry of Business, Innovation and Employment (MBIE) team running the default appointment process penciled in a final decision for late April 2021. With… [Read More…]

AMP has swallowed the passive pill, appointing BlackRock to manage its KiwiSaver and superannuation master trust schemes under index conditions. In a release this morning, AMP says it would replace its main incumbent manager – sister firm AMP Capital – “once preparatory activities have been completed”. “The transition to the new investment model is expected… [Read More…]

At least three bank-based KiwiSaver schemes will have to rehome billions of dollars of indexed investments as Vanguard exits the institutional market in Australasia. Early in October Vanguard revealed it would return about A$160 billion managed on behalf of a range of institutions in Australia and NZ as the business swings to the retail market… [Read More…]

KiwiSaver default fund tenders are now go after the government released the ‘request for proposal’ (RFP) documents this afternoon. The just-published RFP documents confirm both the fossil fuel exclusion rules and balanced fund asset allocation settings required when the new default regime kicks off next December. It appears the government has opted for the tougher… [Read More…]

Back by popular demand for its 13th edition, the Investment News NZ (IN NZ) annual KiwiSaver report is now available free to download. Landing slightly later than in previous years, due to COVID-related scheme reporting delays, the IN NZ ‘KiwiSaver the 13th’ study captures the market at one of its lowest historical points. All annual… [Read More…]

KiwiSaver schemes may ultimately have to hold 15 per cent or more of their portfolios in illiquid assets, according to Simon O’Grady, Kiwi Invest chief investment officer. O’Grady said with an increasing number of companies globally leaving, or never joining, listed exchanges long-term investors will need to access the “large and growing pool of private… [Read More…]

Mercer has set the tone for the imminent KiwiSaver default scheme beauty parade, slimming down fees and embarking on an ambitious sustainable investment makeover. Following the changes implemented last week, Mercer KiwiSaver default fund fees fell almost 20 per cent along while the manager also laid out plans to bolster the product’s responsible investment (RI)… [Read More…]

As Australian institutions limp away from the wealth management battlefield, Scott Alman*, Consilium head, explains why KiwiSaver investors remain exposed to the vertically integrated weak point highlighted across the Tasman – lack of independent advice…   It was with great interest that I read the Australian Financial Review August 30 headline “IOOF to buy NAB’s… [Read More…]

Maybe it’s not breaking news but a Mercer NZ survey has found women tend to be more responsible than men, in their KiwiSaver preferences at least. According to the new Mercer KiwiSaver sentiment study, almost 80 per cent of women rated access to responsible investment as important when selecting a scheme compared to 69 per… [Read More…]

More regulatory guidance and a stern talking-to for a few KiwiSaver providers are in the offing as the Financial Markets Authority (FMA) digests the findings of its just-published ‘value for money’ report on the sector. Liam Mason, FMA director regulation, said the new report – ostensibly a review of active and passive investment among KiwiSaver… [Read More…]

AMP Wealth Management NZ has put its circa $9 billion investment portfolio up for review with a shift to passive strategies one option on the table. An AMP spokesperson confirmed the underlying investments of both its KiwiSaver and superannuation master trust were under the spotlight. “To ensure the investments we offer through our AMP KiwiSaver… [Read More…]

KiwiSaver providers are likely to face further pressure on fees following a new Financial Markets Authority (FMA) report due for publication in the next few weeks, including the potential for default schemes to publish profit-and-loss figures. It is understood that the FMA ‘value for money’ study, carried out by consultancy firm MyFiduciary, concludes KiwiSaver fees… [Read More…]

The KiwiSaver market took a $4.6 billion hit in the March quarter as net inflows of about $1.1 billion were more than offset by investment losses of $5.7 billion, according to new figures from Australian research house Plan for Life (PFL). KiwiSaver kingpin, ANZ, booked the biggest loss in nominal terms (down more than $1.2… [Read More…]