Higher fee Kiwisaver managers delivering superior returns

KiwiSaver managers pocketed more than $650m in fees in 2021. (Image: Deposit photos)

Wed, 06 Oct 2021

The government and the Financial Markets Authority (FMA) want lower KiwiSaver fees but some of the best after-fees returns are being delivered by managers that charge well above the average.Analysis by consulting actuaries Melville Jessup Weaver (MJW) showed Milford Asset Management pocketed the most fees per member in the year ended March at $921 when most providers received less than $500.Fisher Funds, one of the providers that will lose default fund status from Dec 1, received $500 per member.However, the best returning funds after fees in t...

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