Sharesies' KiwiSaver still going for growth, reaches break-even on cash flow

Sharesies KiwiSaver offering was marginally cash-flow-positive in the year ended March but its general manager says the focus is still on growth and enhancing its products.

Sharesies Matt Macpherson its KiwiSaver is about chasing scale, not profitability. Pic Supplied

Matt Macpherson says members of the KiwiSaver fund reach about 26,000 at March 31 and has since grown to just over 35,000.

Part of that growth has been fuelled by Sharesies’ offering KiwiSaver accounts for children – “That’s really resonated well,” Macpherson says.

But that’s ...MORE»

Salt's long-short fund chalked up another strong year Thursday, July 23rd, 8:04AM Salt Funds Management’s Salt Long Short Fund had another strong year, earning a $1.3 million performance fee for the year ended March, although that was down from the $1.4 million fee earned the previous year. MORE»

Generate's KiwiSaver funds got their turn in the sun in the June quarter Wednesday, July 22nd, 8:03AM It was Generate’s turn to shine in the league of KiwiSaver returns for the June quarter with its balanced, moderate and conservative funds all delivering the best returns in the three months while its growth fund ranked second best. MORE»

Unilaterally changing mortgage arrears payment dates leads to trouble

When repaying debt, timing can be as important as the repayment amount as one borrower found out when served with a Property Law Act (PLA) notice.

Despite having a payment arrangement to clear mortgage arrears, the borrower complained to Financial Services Complaints Ltd (FSCL) his lender wrongly issued him with a PLA enforcement notice, which included payments that were not in default.

He says the lender acted unfairly by issuing the notice even if repayments were only one or two days late.

A PLA notice is a legal document a lender serves ...MORE»

Government looking at wholesale investor loophole Friday, July 17th, 10:37AM The government has finally agreed to start looking at closing the wholesale investment loophole. MORE»

How not to become the Kākāpō of Financial Advice Thursday, July 16th, 6:00AM  6 comments [OPINION] Industry veteran Grant Pearson argues with the advent of AI financial services needs to evolve quickly or it will face an uncertain future.  MORE»

News Bites

Russell Investments sold

A US consortium is planning to buy Russell Investments. MORE»

GoodReturns TV

[GRTV] How to get better access to advice

Watch FMA Director of Deposit Taking, Insurance, and Advice Michael Hewes talks about access to financial advice, what the regulator can do and the role stakeholders play. MORE»

NZ’s economy is beginning to turn around while Australia is showing signs of fatigue

New Zealand and Australia are once again moving through different phases of the economic cycle, and there are early signs the momentum seems to be shifting in our favour. MORE»

Sponsored by:

Former AMP Life policyholders moving to Asteron

Resolution Life, which acquired AMP Life a number of years ago is proposing moving the AMP policyholders to Asteron Life. MORE»

TMM Online

Pace of interest rate increases not clear cut

OCR increases are inevitable off the back of yesterday’s 4.1% inflation figure, but the pace of the hikes remains uncertain to a degree, Westpac says. MORE»

Sponsored by:

New MDRT NZ leaders

MDRT has named its new executives for the next 12 months. MORE»

Sponsored by:

Sharesies' KiwiSaver still going for growth, reaches break-even on cash flow

Sharesies KiwiSaver offering was marginally cash-flow-positive in the year ended March but its general manager says the focus is still on growth and enhancing its products. MORE»