Simplicity founder 'appalled' by community trusts $130m 'destruction'

Simplicity's Sam Stubbs Stubb placed blamed on financial advisors who he says charge high fees for complicated active investment portfolios. (Image: Supplied)

Dan Brunskill

Thu, 15 Jul 2021

New Zealand’s eleven community trusts have missed out on almost $130 million of potential gains due to poor investment strategies, a research paper by a University of Otago professor claims.Simplicity founder Sam Stubbs says the research paper is a “genuine scandal” and the trusts should jettison their self-interested financial advisors who delivered the result.Helen Roberts, an associate professor in the department of accounting and finance, examined the investment performance of the regional community trust funds between Apr...

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