Low-fee KiwiSaver provider Simplicity is launching two new index funds, which seem to take on the NZX’s Smartshares offering.
The non-KiwiSaver funds are a NZ Share Index Fund and a NZ Bond Index Fund.
Simplicity said they were significantly cheaper than the Smartshares funds invested in the same areas.
The Simplicity funds have an annual administration fee of $30, and management fees of 0.1 per cent. The minimum investment is $10,000.
The NZX's Smartshares Top 50 fund charges 0.5 per cent, and its NZ Bond Fund has a charge of 0.54 per cent. Each have a minimum investment requirement of $500.
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