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 0.5% ahead of long weekend
Markets Market Close

NZ sharemarket up 0.5% ahead of long weekend

Pacific Edge's share price fell 7.32%.

Tom Raynel 24 Apr 2025
Pacific Edge suffers another setback in US
Markets

Pacific Edge suffers another setback in US

Shares in cancer diagnostics company Pacific Edge are down 2.44% to $0.120 after another setback in the US market.The US District Court for the Middle District of Pennsylvania has determined that it does not have jurisdiction to review a Local Coverage Determination (LCD) that co...

Staff reporters 24 Apr 2025
Listed retailers stand to gain from Trump tariffs:  Forsyth Barr
Retail

Listed retailers stand to gain from Trump tariffs: Forsyth Barr

Forsyth Barr lifted its KMD Brands target price by 10.4% after Trump tariff walkbacks.

Gregor Thompson 24 Apr 2025
NZ sharemarket rises as Trump backs down
Markets Market Close

NZ sharemarket rises as Trump backs down

The S&P/NZX 50 Index closed up 1.01% or 119.78 points.

Tom Raynel 23 Apr 2025