MBIE’s ‘myopic focus on fees' hurts default KiwiSaver members

MBIE’s ‘myopic focus on fees' hurts default KiwiSaver members
Analysis of long-term returns shows high-fee funds have better returns but one passive provider says that is changing fast.
Dan Brunskill
A white paper by Morningstar has criticised the government’s selection of default KiwiSaver providers for having a short-sighted focus on fees that is not supported by evidence.KiwiSaver members who do not choose a provider are invested in one of the government-appointed default providers, which are chosen every seven years by the Ministry of Business, Innovation and Employment (MBIE).The most recent round of changes – announced in May this year – were the biggest shakeup of the $87 billion scheme since it began in 2007, analy...

More Markets

Vector agrees to sell LPG assets for $150m
Markets

Vector agrees to sell LPG assets for $150m

The deal is subject to regulatory approvals and commercial conditions.

Rebecca Howard 26 Jul 2024
ASX: Australian shares slide to a two-week low as tech drags
Markets

ASX: Australian shares slide to a two-week low as tech drags

Every sector of the Australian share market has lost ground.

AAP 26 Jul 2024
NZ sharemarket down 0.38%
Markets Market close

NZ sharemarket down 0.38%

The S&P/NZX 50 Index closed at the day’s low of 12,349.47, down 46.79 points or 0.38%.

Graham Skellern 26 Jul 2024
The Warehouse’s plight in five charts
Retail Charts

The Warehouse’s plight in five charts

The private equity bid shows the company’s future is still anyone’s guess.

Gregor Thompson 26 Jul 2024