Simplicity trims fees

Simplicity has trimmed its fees and made it easier to invest in its non-KiwiSaver funds.

Monday, March 2nd 2020, 8:39PM 1 Comment

As of March 1, it has dropped its membership fee from $30 a year to $20.

Children do not pay an annual fee.

It said in an update to members that it would also donate 15% of that annual fee to charity, as well as 15% of its management fee.

Simplicity is also lowering the minimum investment amount for its non-KiwiSaver investment fund from $5,000 to $1,000.

These operate the same fee structure as the KiwiSaver funds. Simplicity now has more than $500 million under management in its investment funds.

Founder Sam Stubbs told the recent FMA debate that investors in New Zealand equities should only be charged $30 a year, because that was what it cost managers.

 

Tags: fees KiwiSaver Sam Stubbs Simplicity

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Comments from our readers

On 4 March 2020 at 12:52 pm Regress said:
Interesting swerve, now global markets are crashing...

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