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…]
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Kernel salutes KiwiSaver launch with fee cuts, new funds
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…]
More retirees sticking with KiwiSaver, report finds
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…]
Sorting KiwiSaver (again): industry fears one-sided government review
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…]
Consolidation prize: why profit-and-loss will win out in KiwiSaver
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…]
KiwiSaver members mix it up on InvestNow
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…]
Milford boards AMP KiwiSaver, master trust; Fisher lays out Aon plans
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…]
Adviser-backed KiwiSaver fast-tracks to $40m
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…]
Actuaries back standard decumulation data, mandated KiwiSaver retirement income models
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…]
… as passive creeps into KiwiSaver menus
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…]
IRD 2021 report shows sluggish KiwiSaver member-growth
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…]
KiwiSaver in holding pattern as default re-set awaits
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…]
MJW finds KiwiSaver competition up, price down
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…]
KiwiSaver in colour: why it shouldn’t be the new black
Over the 2020/21 financial year, KiwiSaver fired on all cylinders but, according to Mint Asset Management head of sales and marketing David Boyle, focusing just on fees could limit its future performance potential… Henry Ford liked things simple. And there was one defining moment of simplification in particular that stands out in Ford’s autobiography, penned… [Read More…]
Fisher nets Aon KiwiSaver
The $14 billion Fisher Funds has snapped up the over $730 million Aon KiwiSaver scheme in a deal set to close at the end of November. In a note to clients today, Aon said both providers “will be working through a seamless transition for all Aon KiwiSaver Scheme members” once the sale goes through. “On… [Read More…]
New balance: KiwiSaver default funds look the same but different
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…]
Generate to double KiwiSaver options
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…]
How many Kiwis has KiwiSaver saved?
Mint head of sales and marketing, David Boyle, answers the big KiwiSaver questions… What do we need to do to make our good retirement scheme great? The answer to the headline is obviously none of our feathered friends, but there are plenty of the human variety who have reason to be thankful. And, with… [Read More…]
KiwiSaver Year 14 unmasked: FREE report opens up on scheme trends
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…]
June quarter sees Milford KiwiSaver shoot the moon
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…]