Largest fund manager axes KiwiSaver membership fees

ANZ Investments to remove $18 annual membership fee (Image: Supplied)

Thu, 30 Sep 2021

New Zealand’s largest KiwiSaver provider, ANZ Investments has abandoned membership fees following pressure from market regulators. Earlier this week, the Financial Markets Authority told BusinessDesk it expects to see more providers reduce the fees charged on managed funds – with fixed membership fees first on the chopping block.Today, ANZ Investments said it will remove the $18 annual membership fee from its ANZ KiwiSaver schemes and the OneAnswer KiwiSaver Scheme.Stewart Taylor, acting managing director of funds ma...

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