Kiwi Wealth has launched a new investment service for wholesale investors which includes a suite of locally-managed wholesale funds.
The four portfolio investment entity (PIE) funds are available to wholesale investors and are managed by Kiwi Investment Management Limited (Kiwi Invest).
The investment approach used for these new funds differs from many fund managers operating in New Zealand in that it employs a global approach to investing but the investment team is based in New Zealand – including portfolio managers of global assets.
“Our starting point is the world, and in this day and age technology makes it possible to manage global assets from New Zealand. Our track record shows that our highly qualified and experienced investment team can foot it with the best of them,” said chief investment officer Simon O’Grady.
Kiwi Wealth and Kiwi Invest are both indirect subsidiaries of Kiwi Group Holdings Limited, which also owns Kiwibank.
Kiwi Invest’s new wholesale offering currently comprises four funds:
Growth Fund: an actively managed diversified portfolio of primarily global shares and other growth assets
Fixed Interest Fund: an actively managed diversified portfolio of New Zealand and global fixed interest investments
Core Global Fund: a diversified portfolio of global share investments with enhanced index management, with a choice of hedged and unhedged share classes
Cash Fund: a portfolio of cash investments
Peter Verhaart, Kiwi Invest head of wholesale and private investment, said the wholesale funds would provide New Zealand wholesale investors with access to investment strategies with long and successful track records that deliver a real difference.
“We believe the New Zealand wholesale market needs a fund manager that is entirely focused on New Zealand investors, where the profits are retained in a New Zealand-owned corporate group for the ultimate betterment of New Zealanders – not individual shareholders or foreign owners.”
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