Fund history should reset after reclassification, adviser says
One financial adviser says it’s misleading that the fund that tops the Morningstar KiwiSaver growth category for five- and 10-year returns was not in that category for the whole of that time.
Milford’s Active Growth fund reports a five-year return of 9.8% a year and 10-year return of 12.4%.
But adviser Rachelle Bland has taken issue with that because, until the first quarter of 20167, the Milford Active Growth Fund was classified as Australasian equity fund, with 62.2% in NZ domiciled assets and 21% in Australia.
“Then, in Q2 2017, it was re-classified as a ‘growth’ ...MORE»
Gold soars on global uncertainty; shares sinkWednesday, August 5th, 5:59PM
New Zealand shares edged lower and gold hit another record as investors focused on the lingering uncertainty caused by the number of coronavirus cases continuing to rise globally. MORE» |
Financial Advice NZ ponders questions of experience in Trusted Adviser consultationWednesday, August 5th, 6:00AM 3 comments
How the Financial Advice New Zealand Trusted Adviser mark will recognise adviser experience is a question being ironed out through the association’s consultation on the mark. MORE» |
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Industry participants pick up more of FMA's tab
Industry participants will pay 83% of the cost of funding the Financial Markets Authority by 2022, documents released by the Ministry of Business, Innovation and Employment show.
A Cabinet paper released by the ministry last week shows that participants are picking up the tab as the regulator’s budget increases significantly over the coming years.
The paper said the FMA has faced an expansion of its regulatory remit and broader cost pressures in recent years.
In April, Cabinet agreed to increase the FMA’s appropriation over three years to $60.805 million by 2022/23 ...MORE»
'Retirees' stick with KiwiSaver, AMP saysMonday, August 3rd, 5:00AM
More people over the pension age are choosing to keep their KiwiSaver funds active, AMP Wealth Management says. MORE» |
FMA restarts regulatory activitiesSunday, August 2nd, 9:17PM
The Financial Markets Authority says regulatory activities will restart in a “phased approach” as New Zealand continues to respond to the disruption caused by Covid-19. MORE» |
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