Simplicity seeks tax efficiency in Vanguard separation

Simplicity parts ways with Vanguard (Image: Getty)

Wed, 26 Apr 2023

Upstart non-profit fund manager Simplicity New Zealand is ending its dalliance with exchange-traded fund provider Vanguard as it seeks to keep a lid on members’ tax bills for its international investments. Simplicity is switching the management of more than $3 billion of international investments from Vanguard unit trusts to NZ-domiciled funds managed by Germany’s DWS International. The NZ fund manager has set up the new international investment portfolios as locally-domiciled funds because their income earned is subject t...

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