Private equity, not govt mandates, KiwiSaver's future: Managers
Finance Minister Grant Robertson, speaking at Russell Investments’ annual conference, said New Zealand needed to do better at keeping KiwiSaver money in New Zealand.
He said central and local government could help by packaging up projects such as infrastructure development so fund managers could get the yield they need. Work was under way in that area, he said.
John Berry, of Pathfinder Asset Management, said he would not support moves to push fund managers to invest their money in any particular location.
“That’s the fund manager’s call – they’re acting in the best interests of their clients. They need to assess the risk and return relative to that. You can’t just politically mandate a certain percentage to be held in New Zealand.”
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