AMP a laggard with KiwiSaver default status on the line

AMP a laggard with KiwiSaver default status on the line
Dan Brunskill
AMP’s KiwiSaver is still the worst-performing default provider as the deadline to bid for the next seven-year contract creeps closer.  The latest Morningstar report shows AMP delivering the lowest returns in each timeframe, except the past quarter. Across the past decade, AMP has generated an annual 4.9 percent return after fees for its default fund investors compared to more than 5.5 percent from its peers.ANZ’s default conservative fund has been the best performer, generating a 6 percent annual return in the past 10 years, fo...

More Finance

Officials MIA on banking competition, say critics
Finance

Officials MIA on banking competition, say critics

Over-regulation of the banking sector is blamed for stifling competition.

Pattrick Smellie 20 Feb 2025
Heartland declares $49.6m impairment in NZ business
Finance

Heartland declares $49.6m impairment in NZ business

Heartland Group shares fell 12% in early trading.

Gregor Thompson 18 Feb 2025
Big banks scrubbing public mentions of DEI
Finance

Big banks scrubbing public mentions of DEI

Citigroup and others seek to avoid possible litigation and federal probes.

Toy entrepreneur quashes spec of NZME takeover
Finance

Toy entrepreneur quashes spec of NZME takeover

Zuru founder Nick Mowbray says a report speculating he could take over private media company NZME is wrong. On Friday morning, The Australian’s Data Room said “some wealthy Kiwis” were plotting to do something about the state of New Zealand’s media industry and cited Mowbray as a...

Victoria Young 14 Feb 2025