KiwiSaver management fees climb 28% in 2016 as more members switch to active schemes

Wed, 05 Oct 2016

By Paul McBeth Oct. 5 (BusinessDesk) - KiwiSaver investment management fees climbed 28 percent in the March 2016 year, outpacing the growth in funds under management as a rising number of members switched to more active schemes in a year when returns reduced. Investment managers reaped $219.5 million in fees on KiwiSaver schemes in the 12 months ended March 31, up from $172 million a year earlier, with fees on active schemes climbing by almost a third to $202 million, the Financial Markets Authority's annual KiwiSaver report shows. That...

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