KiwiSavers not getting value for money, says FMA report

Mon, 24 Aug 2020

Passive KiwiSaver managers are no cheaper than active ones and fees overall are too high, a report by the Financial Markets Authority has found.The report, carried out by Auckland-based research firm MyFiduciary, examined 26 KiwiSaver providers and found there was no significant relationship between the level of active management and the fees charged. “We would have expected to find that the less active providers would have lower fees, on average, than the most active providers,” report authors Chris Douglas and...

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