ANZ disappointed to lose KiwiSaver default status

ANZ disappointed to lose KiwiSaver default status
Simplicity's Sam Stubbs said KiwiSaver managers charge too much.
Jenny Ruth
ANZ Bank NZ said it is disappointed at losing its KiwiSaver default status but said it believes active management will deliver better outcomes for investors over time.ANZ is the largest KiwiSaver manager and one of five default providers losing that status from Dec 1. The government chose the six successful default providers because of their lower fees. It has also shifted the mandated investment style from conservative to balanced."We have some of the best performing funds, our fees are near the median for default providers and we ha...

More Finance

Unscrambling EGS investment in Trump's world
Finance

David Chaplin: Unscrambling EGS investment in Trump's world

The US rush from ESG investments labels is well under way.

David Chaplin 05 Feb 2025
Forsyth Barr on Spark's 'incumbent's dilemma'
Finance

Forsyth Barr on Spark's 'incumbent's dilemma'

Falling market share and margins in the broadband market look entrenched.

Pattrick Smellie 05 Feb 2025
Coal and gold added to critical minerals list
Finance

Coal and gold added to critical minerals list

Banks and insurance companies threatened with regulatory retaliation if they block mining.

Ian Llewellyn 31 Jan 2025
Powell says US Fed in no hurry to cut rates after pause
Finance

Powell says US Fed in no hurry to cut rates after pause

The decision follows three consecutive rate reductions.