Fisher Funds to retain Kiwi Wealth scheme and Wellington staff

Fisher Funds CEO Bruce McLachlan says KiwiSaver providers need scale to compete with the big Aussie banks. (Image: Fisher Funds)

Dan Brunskill

Tue, 16 Aug 2022

Fisher Funds plans to retain Kiwi Wealth’s KiwiSaver scheme and many of its Wellington-based staff once the acquisition is complete.On Monday, Kiwi Group Holdings announced Fisher Funds had agreed to buy Kiwi Wealth for $310 million – conditional on Overseas Investment Office approval. This deal will make Fisher Funds the second-largest KiwiSaver provider, with $14 billion under management, putting it ahead of ASB’s $13.3b. Fisher Funds' chief executive Bruce McLachlan said NZ’s financial services had long...

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