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New Zealand

Local players form teams for Shares KiwiSaver

Leighton Roberts: Co-Founder of Sharesies

Sharesies confirmed KiwiSaver’s launch line-up with three local fund managers and started batting for the scheme.

Sharesies KiwiSaver’s just-released Statement of Investment Policy and Objectives (SIPO) lists Pathfinder, Pie Funds, and Smartshares as the underlying managers for the investment platform’s initial pitch into the sanctioned financial product space. I’m here.

Shares co-founder Leighton Roberts said the company will roll out its KiwiSaver product in the first half of 2023, after receiving a managed investment scheme (MIS) license earlier this month.

However, the long-awaited scheme follows the traditional outsourcing manager route rather than the open selection model of stocks and funds favored by the Sharesies investment platform.

According to SIPO, the KiwiSaver scheme will offer a choice of three growth funds managed by Pathfinder, Pie and Smartshares, with Smartshares also offering a balanced conservative option.

Specifically, the Shares scheme will invest in existing Smartshares SuperLife conservative and balanced growth funds, the Pathfinder Ethical Growth Fund and the Pie Growth 2 Fund.

All three underlying managers are also running the KiwiSaver scheme. Two, he’s a case of his Smartshares (which recently bought a QuayStreet product) owned by NZX, and Pie, where he runs Juno KiwiSaver.

Pricing and other product details are still lacking, but Sharesies SIPO suggests the scheme will add more investment options over time.

“Our core belief is that when it comes to retirement savings, New Zealanders should have greater control over where they invest their KiwiSaver savings.As manager of the Sharesies KiwiSaver scheme, [Sharesies Investment Management Limited] SIML is the central point of coordination between supervisors, custodians, administrators and fund managers,” said SIPO. “Through this partnership model, SIML will be able to offer members more choice and control over her KiwiSaver and introduce and support schemes that offer a low-cost, digital-first experience.”

Trustees Executors have been appointed as administrators and supervisors of Sharesies KiwiSaver, with management divided between internal systems and MMC (now part of Apex Group NZ).

Since its launch in 2017, Sharesies has amassed over 500,000 members on its stock trading and funds platform, including new Australian businesses.

https://investmentnews.co.nz/investment-news/local-players-make-team-for-sharesies-kiwisaver/ Local players form teams for Shares KiwiSaver

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