FMA details methods KiwiSaver managers can use to show fees charged

Thu, 08 Jun 2017

By Tina Morrison June 8 (BusinessDesk) - The Financial Markets Authority will allow KiwiSaver fund managers to use one of two methods to show how much they are charging people to manage their funds. As part of new regulations requiring KiwiSaver managers to disclose fees in dollar values for investors, the FMA will allow them to use the investor's balance at the date the units of the fund are valued, known as the cents per unit (CPU) method, or another method based on the investor's average balance or the total annual fund charge (TAFC) m...

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