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

NZ Funds a ‘ticking time bomb’, says market veteran
The KiwiSaver provider has used internet memes to sell its highly leveraged growth fund.
Dan Brunskill
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...

More Markets

NZ sharemarket up 0.3%, Tower dominates trading
Markets Market Close

NZ sharemarket up 0.3%, Tower dominates trading

The S&P/NZX 50 Index closed at 12,312.6, up 42.6 points or 0.35%.

Graham Skellern 01 Apr 2025
Behind the rise of shareholder activism
Markets

Behind the rise of shareholder activism

Activists can be seen as 'baddies', but a new report says there are benefits.

My Food Bag CEO signals 'return to growth'
Retail

My Food Bag CEO signals 'return to growth'

My Food Bag's chief executive, Mark Winter, says the company has "returned to growth" after strengthening its sales performance in the second half of the financial year.On Tuesday, the meal-kit delivery firm told the NZX that it expects to deliver full-year earnings in line w...

Gregor Thompson 01 Apr 2025
Who is Mainland Group's chair-elect Liz Coutts
Primary Sector

Who is Mainland Group's chair-elect Liz Coutts

From CEO at 31 to one of NZ's most sought-after directors.