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Press Release – InvestNow Innovative online savings platform InvestNow has knocked back claims that the current single scheme KiwiSaver rule limits member choice. Mike Heath, InvestNow General Manager, said recent media comments alleging the current law restricting KiwiSaver …
Innovative online savings platform InvestNow has knocked back claims that the current ‘single scheme’ KiwiSaver rule limits member choice.
Mike Heath, InvestNow General Manager, said recent media comments alleging the current law restricting KiwiSaver members to one scheme is ‘incredibly bad practice’ misses an important development in the sector.
“At InvestNow we’ve solved what some media commentators are calling a flaw in the design of KiwiSaver that restricts diversification by preventing members from joining more than one scheme,” Heath said. “By applying our existing platform technology, Kiwis don’t have to have all their KiwiSaver eggs in one basket – with us they can choose m
The fund manager had claimed more than $90,000 in subsidies at the start of the pandemic.
Fund manager Mint Asset Management has repaid wage subsidies and paid a $1.25 million dividend after its revenue rose nearly 20% last year.
Last year, NBR reported that Mint was
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Wednesday, 14 July 2021, 2:38 pm
Innovative online savings platform InvestNow has knocked
back claims that the current ‘single scheme’ KiwiSaver
rule limits member choice.
Mike Heath, InvestNow
General Manager, said recent media comments alleging the
current law restricting KiwiSaver members to one scheme is
‘incredibly bad practice’ misses an important
development in the sector.
“At InvestNow we’ve
solved what some media commentators are calling a flaw in
the design of KiwiSaver that restricts diversification by
preventing members from joining more than one scheme,”
Heath said. “By applying our existing platform technology,
Kiwis don’t have to have all their KiwiSaver eggs in one
Chatham’s experience is not an outlier. Growing numbers of New Zealanders are investing in shares through online investment platforms. The proportion of New Zealanders investing in shares through online platforms rose from 17 per cent of investors surveyed in 2019 to 21 per cent in 2021, the Financial Markets Authority (FMA) said. The rise in online investment coincides with a drop in the percentage of people with term deposits, from 34 per cent to 28 per cent, over the same period.
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Leighton Roberts, founder and co-chief executive (pictured left alongside fellow co-chief executives Sonya Williams and Brooke Roberts), said high property prices and ease of access had driven a new type of investor to the sharemarket.