National Capital serves first KiwiSaver rating report

Financial advisers National Capital say management disruption in the past six months means financial advisers need to remain alert in the coming quarters.

The comments came in Auckland-based National Capital’s first KiwiSaver Value for Money Report. Founder and co-director Clive Fernandes says it is the first rating of KiwiSaver funds which looks beyond performance to qualitative data.

National Capital rated KiwiSaver funds against six pillars; performance after fees, assessment of the value provided for fees, fund management capability, provider stability, portfolio composition and processes, and ethical investing.

Fernandes says In the past two quarters the industry has seen more personnel disruption than usual. This impacted ratings for the management capability and stability pillar with the report noting the departure of industry veterans including ANZ co-head of diversified funds Alan Clarke who left the bank in March. A search for Clarke’s successor is still underway.