Fisher get KiwiSaver default status
Fisher Funds has confirmed that the Minister of Commerce has confirmed the manager's newly acquired business will keep KiwiSaver default status.
Thursday, December 29th 2022, 2:49PM
In a press release dropped on December 22, Fisher Funds chief executive, Bruce McLachlan, revealed that a week earlier the minister advised that that Kiwi Wealth would be retaining its status as a default provider.
There appears to be no statement from the minister or Inland Revenue.
Many people were concerned that after Fisher Funds lost its default status in the latest review it would pick it up again by acquiring Kiwi Wealth.
McLachlan says: "While this was never a condition or intention of the acquisition, we nevertheless welcome the decision as it ensures members, both new and existing, have certainty around their position."
"We intend to continue to operate the Kiwi Wealth default fund as a standalone entity, and our focus remains on working through a seamless transition and integration of the two businesses throughout 2023.
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