Kiwi Wealth: sell it like it is

(Image: Getty)

Wed, 17 Aug 2022

Flush with cash and ready to go, Fisher Funds revealed the obvious on Monday this week with its $310 million winning bid for the government-owned Kiwi Wealth business.To be paid for in proportional measures by shareholders the Toi Foundation and US private equity firm, TA Associates, the deal will leapfrog Fisher into second or third place (pending market conditions) in the NZ retail funds management sector.Toi, previously known as the TSB Community Trust, owns about two-thirds of Fisher with the remainder in TA's hands.Post-purchase, the m...

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