Aurora Chief Executive Sharon Mackay says FundRock’s involvement has provided a strong foundation for the scheme’s success to date.
Bringing management of the scheme in-house to Hive Funds is expected to improve operational efficiency and provide greater flexibility to enhance the scheme over time for the benefit of advisers and members.
Hive Funds is a New Zealand-based licensed managed investment scheme manager and is part of the same group as Aurora Capital, the investment manager responsible for investing the assets of the Aurora KiwiSaver Scheme.
Mackay says the change will have no impact on members’ account balances, investment strategies, fees, or day-to-day account experience.
“We see this as an important step forward,” Mackay says.
“By bringing management closer to the core of our business, we’re creating a platform for continued improvement and innovation for advisers and members. It gives us greater flexibility to evolve the scheme as it grows.”
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