Search Results for: kiwisaver

Just two of the 13 largest KiwiSaver providers eked out positive net growth over the tough December quarter, likely buoyed by new member transfers rather than investment returns. According to the latest data from Australian research house … [Read more...] about December was a downer but dynamic duo defeat KiwiSaver depression

New Zealand’s sometime single-largest taxpayer would become exempt under proposals handed down by the Sir Michael Cullen-led Tax Working Group (TWG) last week. The TWG recommends removing the tax requirement for NZ Superannuation Fund (NZS) – also … [Read more...] about Cullen report calls for NZ Super tax cut, PIE/KiwiSaver split, flexible FDR

Robot number four has been approved to offer digital financial advice in NZ. The Auckland-based National Capital, owned by authorised financial adviser (AFA) Clive Fernandes earned the right to offer robo-advice services via an exemption issued at … [Read more...] about New KiwiSaver robo-adviser activated

Employers won’t be compelled to make KiwiSaver contributions for over-65s under a proposed tax omnibus bill, the final select committee report on the legislation confirmed last week. The wide-sweeping Taxation (Annual Rates for 2018–19, … [Read more...] about KiwiSaver, tax reforms loom as committee signs off

A new Financial Services Council (FSC) report has tipped KiwiSaver schemes were primed to invest more into alternative assets despite technical difficulties. “KiwiSaver fund managers have also reported that uniform valuation methods are not used … [Read more...] about FSC mulls alternative future for KiwiSaver, funds and advice

The National Australia Bank-owned BNZ has clambered above Mercer to assume the spot as the seventh-largest KiwiSaver provider in the latest Strategic Insight (SI) survey. KiwiSaver latecomer BNZ jumped ahead in the SI rankings during the September … [Read more...] about BNZ bumps Mercer in KiwiSaver rankings

The ideological war on KiwiSaver is heating up ahead of two major policy decisions scheduled for next year with calls to scuttle the current default system and delete the tax advantage for higher income earners. Binu Paul, co-founder of financial … [Read more...] about KiwiSaver default settings, tax relief plans come under fire

The Tongan Retirement Fund (TRF) chief is set to join Auckland-based investment governance and consulting firm, MyFiduciary, as principal next year. Saia Uai Havili, who has served as CEO of the approximately NZ$100 million TRF for nine years, … [Read more...] about MyFiduciary lands Tongan fund chief; Constellation founder joins Craigs; Pie-owned KiwiSaver hires group head

Most KiwiSaver manager tactical tilts against strategic asset allocation (SAA) benchmarks have failed to pay off, a new Melville Jessup Weaver (MJW) analysis reveals. The MJW study of 10 KiwiSaver managers found tactical asset allocation (TAA) – … [Read more...] about MJW study finds KiwiSaver manager tilts off-balance

The Tax Working Group has flagged a broad “capital income tax” to include shares and a raft of other assets in its interim report released today. While it has yet to finalise the capital gains tax recommendations, the interim report maps out a … [Read more...] about CGT, PIE, KiwiSaver changes mooted in tax report

Booster has upped the alcohol content of its KiwiSaver scheme after adding another wine-maker to the private equity portfolio held via the Tahi fund. Last week, Booster finalised the purchase of the Hawke’s Bay-based Sileni Estates – founded by … [Read more...] about KiwiSaver manager cellars another vintage investment

The number of members swapping KiwiSaver schemes jumped about 9 per cent over the 12 months to June 30 to hit an all-time high of almost 163,000, new Inland Revenue Department (IRD) data shows. According to the IRD annual statistics, the number of … [Read more...] about KiwiSaver transfers, first home and hardship withdrawals all spike in 2018 year

It was more-or-less more-of-the-same for KiwiSaver schemes during Year 11, according to the latest edition of the Investment News New Zealand (IN NZ) annual market study. The now free-to-download IN NZ report found the same 29 KiwiSaver schemes as … [Read more...] about KiwiSaver in its prime: free Year 11 report now live

The KiwiSaver pool sloshed over the $50 billion mark during the June quarter aided by regular flows and a gush of investment returns, the latest Strategic Insight (SI) data shows. According to the SI research, the KiwiSaver market filled up more … [Read more...] about … as KiwiSaver bursts through $50bn

The KiwiSaver universe has expanded to 32 following the launch of a new scheme managed by Pie Funds. To be officially released under the Juno brand on August 1, a name it shares with the Pie in-house magazine, the new scheme features the standard … [Read more...] about New KiwiSaver scheme emerges from regulatory oven

Providers need to find ways to make KiwiSaver “feel real” to a large bloc of members, according to Financial Markets Authority (FMA) chief, Rob Everett. Everett said the FMA’s latest ‘Investor Confidence’ survey, released last week, shows … [Read more...] about FMA survey finds KiwiSaver-only investors have real problem

The Tax Working Group (TWG) would likely consider the impact of any proposals on the NZ investment regime as one of the last agenda items. TWG chair, Sir Michael Cullen, said any review of the potential effect of any tax changes on the current NZ … [Read more...] about KiwiSaver, PIEs last in line for tax enquiry; inflation-indexing floated