Venture capital too full of fishhooks for most KiwiSavers

Venture capital too full of fishhooks for most KiwiSavers
Dan Brunskill
KiwiSaver providers are reluctant to follow Kiwi Invest into early-stage start-up investments despite low interest rates pushing fund managers to seek out alternative assets.Last month, Kiwi Invest committed $54 million from its Kiwi Wealth KiwiSaver Scheme to a venture capital fund managed by Wellington-based Movac.Chief investment officer at Kiwi Invest, Simon O’Grady, said the market was changing and those providing capital had to venture into the private, unlisted sector to seek investment returns in the low interest rate environment....

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