by Ralph Stewart
Former AXA chief executive Ralph Stewart is developing a new type of annuity product, NZ Income Guarantee, which he is hoping to bring to market in the second quarter of next year.
But he said the only thing that was similar to a traditional product was that it paid out regularly.
Investors would have their money in a balanced fund, with active asset allocation and active hedging to manage risk. Investment could be split between naked drawdown options and those with a guarantee.
He said he had been talking to annuity providers overseas to learn from their experience. “We’re almost through the feasibility stage.”
Ralph Stewart is a director of NZ Income.
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