Fisher Funds buys Kiwi Wealth, but is more always better?

Fisher Funds buys Kiwi Wealth, but is more always better?
Fisher Funds should end up with more than $20 billion under management after absorbing Kiwi Wealth. (Image: Kiwi Wealth)
David Chaplin
Fisher Funds takes formal control of the Kiwi Wealth empire this week, almost a year after the government decided to flog off the investment business.Depending on market conditions on the day and client attrition, Fisher should end up with more than $20 billion under management after absorbing Kiwi Wealth, putting the Takapuna-based firm on almost equal footing with the ASB investment business.The highly acquisitive Fisher, which also snapped up the Aon KiwiSaver and employer super scheme last November for $32 million, spent $310m to bag Kiwi W...

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