Finance

Lower KiwiSaver default fund fees, performance seemingly ignored

Jenny Ruth
Sat, 15 May 2021

Lower KiwiSaver default fund fees, performance seemingly ignored

Fisher Funds chief executive Bruce McLachlan says his company's default fund outperformed peer averages.

Jenny Ruth
Sat, 15 May 2021

The government's changes to KiwiSaver default providers will result in lower "extremely good and sharp" fees, David Clark, the commerce and consumer affairs minister, told journalists.However, it doesn't appear that fund managers' investment performance was taken into account.The government had wanted the lowest possible fees and that's what the tender process achieved, Clark said.He had been asked why the government didn't just regulate fees.The government reduced the number of default KiwiSaver managers from nine...

Unlock all stories
free for 10 days

Trustworthy, balanced journalism every day from our growing team of New Zealand business reporters and commentators, plus more in our weekend magazine section, The Life.

Instant News Alerts based on keywords you choose or journalists you follow
Our Daily Digest of all stories at 6am, midday or 6pm
Comprehensive business and markets coverage
News via email, web and Apple/Android apps

Try for 10 days without paying and if you’re not convinced cancel with just two clicks.

Find out more

Subscribe now

Name

E-Mail Address

Password

Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Confirm Password

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Cardholder's Name

Card

You will be charged in 10 days unless you cancel beforehand. We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service {{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Or Subscribe with Google

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Transport

Aucklanders must get out of cars, onto public transport, says emissions plan

Oliver Lewis | Mon, 15 Aug 2022

Auckland council has unveiled its pathway to reduced transport emissions.

Law & Regulation

Address climate change now, supreme court told

Victoria Young | Mon, 15 Aug 2022

Fonterra, Genesis and others face climate change activist Mike Smith.

Law & Regulation

Fate of 'faulty' cladding in the balance as appeal court mulls submissions

Greg Hurrell | Mon, 15 Aug 2022

The fitness for purpose of James Hardie's fibreboard cladding was at the heart of a two-week trial in Wellington's court of appeal, where homeowners tried to overturn their defeat in the high court last year.

Lower KiwiSaver default fund fees, performance seemingly ignored

Subscribe now

Or Subscribe with Google

Not convinced yet?

Your company has a subscription

Team