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Business Scoop » Kiwis Can Hold Diversified Growth Funds, From Multiple Managers, In A Single KiwiSaver Portfolio.

Press Release – InvestNow
Innovative online savings platform InvestNow has knocked back claims that the current single scheme KiwiSaver rule limits member choice. Mike Heath, InvestNow General Manager, said recent media comments alleging the current law restricting KiwiSaver …
Innovative online savings platform InvestNow has knocked back claims that the current ‘single scheme’ KiwiSaver rule limits member choice.
Mike Heath, InvestNow General Manager, said recent media comments alleging the current law restricting KiwiSaver members to one scheme is ‘incredibly bad practice’ misses an important development in the sector.
“At InvestNow we’ve solved what some media commentators are calling a flaw in the design of KiwiSaver that restricts diversification by preventing members from joining more than one scheme,” Heath said. “By applying our existing platform technology, Kiwis don’t have to have all their KiwiSaver eggs in one basket – with us th ....

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Kiwis Can Hold Diversified Growth Funds, From Multiple Managers, In A Single KiwiSaver Portfolio.

Wednesday, 14 July 2021, 2:38 pm
Innovative online savings platform InvestNow has knocked
back claims that the current ‘single scheme’ KiwiSaver
rule limits member choice.
Mike Heath, InvestNow
General Manager, said recent media comments alleging the
current law restricting KiwiSaver members to one scheme is
‘incredibly bad practice’ misses an important
development in the sector.
“At InvestNow we’ve
solved what some media commentators are calling a flaw in
the design of KiwiSaver that restricts diversification by
preventing members from joining more than one scheme,”
Heath said. “By applying our existing platform technology,
Kiwis don’t have to have all their KiwiSaver eggs in one ....

New Zealand General , New Zealand , Castle Point , New Zealanders , Mike Heath , Investnow Kiwisaver , Smartshares Etfs , Nz Companies , Investment Solutions , Heartland Bank , Franklin Templeton , China Construction Bank , Smartshares Growth Fund , Financial Service Provider , Property Group , Milford Active Growth Fund , Citizen Community , Fisher Funds Growth Fund , Foundation For Public Interest Journalism , Revenue Department , Funds Exchange Traded , Kiwis Can Hold Diversified Growth Funds , From Multiple Managers , Single Kiwisaver Portfolio Wednesday , Investnow General Manager , Harbour Asset Management ,

Fund managers boost fee income

Fisher and Devon report results but only one shows a profit gain.
Accounts filed by two fund managers show both reported higher fee income for the year to March but only one converted the gains into higher profits.
For KiwiSaver provider Fisher Funds Management, higher costs offset the increase in fee income, lowering net profit by 12% to $42.2 million.
Its total fee income was $108m, up from $105.6m a year earlier, although the performance fee element was down 32% to $17.6m.
The firm paid dividends during the year of $41.2m to its owners, Taranaki-based TSB Group and Hong Kong private equity firm TA Associates. ....

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