ANZ exits wholesale funds management

ANZ Investments says itwill exit its Wholesale business to focus on customers with investments in KiwiSaver, managed funds, and ANZ Private.

Managing Director of ANZ Funds Management Fiona Mackenzie said: “As KiwiSaver has continued to grow and become a far more significant part of our business, we have decided now is the time to focus our efforts on those investors.

“ANZ Investments is the country’s biggest KiwiSaver provider with managed funds and ANZ Private investments now making up close to 90 per cent of our business. We are proud of the service we provide to our more than 670,000 investors.”

Mackenzie said the overall experience for ANZ Investments’ Wholesale clients was paramount in the decision making.