NZ Funds a ‘ticking time bomb’, says market veteran

The KiwiSaver provider has used internet memes to sell its highly leveraged growth fund.

Thu, 29 Apr 2021

A high growth KiwiSaver run by provider NZ Funds is exceptionally risky and should be subject to a full investigation by the Financial Markets Authority, according to a former member of the Securities Commission, the FMA's predecessor.“The risk ratio on that fund is not suitable for KiwiSaver money,” Neville Todd, now managing director at Woodward Partners Securities, told BusinessDesk.The FMA has already told the KiwiSaver provider to tone down its advertising after a billboard in Wellington bragged of a 107% return in the past...

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