FMA warns KiwiSaver providers about high fees and too many inactive default investors

Tue, 09 Oct 2018

By Nikki Mandow Oct. 9 (BusinessDesk) - The Financial Markets Authority is warning KiwiSaver investors not to rely on a correlation between funds which charge high fees and those that give good returns. The FMA’s latest KiwiSaver annual report, released today, has a strong focus on the level of fees charged by KiwiSaver providers, and says that focus isn’t going away this year. Data in the report shows fees for “active members” (those not in default funds) have almost doubled over the last five years, from $90 per person to $173. Ov...

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