What the FMA said to Fisher Funds about performance fees

The Financial Markets Authority has been looking at value for money. (Image: Getty)

Mon, 26 Jun 2023

The Financial Markets Authority had scrutinised Fisher Funds' performance fees throughout 2022 and “invited” it to review its model, documents released under the Official Information Act show.Fisher Funds, which now owns KiwiWealth, said in April of this year it would scrap the fees and that it now had economies of scale that meant it was no longer appropriate. Performance fees have come under heavy scrutiny, with boutiques like NZ Funds and bigger players like Milford Asset Management all using them.Questioned by the regul...

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