[Weekly wrap] OnePath to victory

OnePath won top prize at last night's Morningstar Fund Manager of the Year Awards, while also taking home the KiwiSaver category, an important win for the manager given the rapidly growing size and influence of the government-sponsored superannuation scheme.

The inclusion of boutique managers,  Elevation Capital and Brook Walter Scott illustrates their growing presence in the market. Congrats to Brook Walter Scott which took out the international equities category.

ANZ managing director, wealth John Body said KiwiSaver had given OnePath a clearer customer focus.  One thing customers need help with is getting into the right fund; new Reserve Bank figures show 60% of KiwiSaver money is invested in fixed interest.

NZ Funds Management chief executive Richard James said the issue affects not just the investors themselves but the rest of the New Zealand economy, and is a huge challenge for advisers and the government.