Fidelity KiwiSaver sale rumoured
Grosvenor says it has no comment to make on reports today that it has bought Fidelity Life’s KiwiSaver business.
Thursday, July 4th 2013, 12:46PM
“You shouldn’t listen to rumours,” a spokesman said.
It has been reported that a deal was done on Tuesday between the two businesses.
Fidelity Life has $244 million in KiwiSaver FUM and bought the Tower life insurance business in May.
It already has links to Grosvenor via TriMax, a life insurance joint venture.
Fidelity Life chief executive Milton Jennings could not be reached for comment.
Many Camelot advisers deal with Grosvenor’s existing KiwiSaver scheme, which has $191 million FUM.
| « KiwiSaver boosting property sales | Fidelity sells KiwiSaver and takes stake with buyer » |
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