Government keeps conservative mandate for default KiwiSaver funds, to re-tender for providers

Wed, 16 Oct 2013

By Paul McBeth Oct. 17 (BusinessDesk) - The government has settled on keeping the existing investment mandate for default KiwiSaver providers to manage funds conservatively, fending off attempts to implement a tiered approach based on members’ age. Finance Minister Bill English and Commerce Minister Craig Foss today announced the government’s decision on the default provider review launched in November last year, keeping the conservative mandate which requires those fund to invest between 15 and 25 percent in growth assets. Fund managers ha...

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