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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 salesFidelity sells KiwiSaver and takes stake with buyer »

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ANZ 8.64 ▼7.45 ▼7.09 ▼6.95
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China Construction Bank Special - - - -
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