Upgraded KiwiSaver tool also rolled out
By opting for High Growth Fund options, which allocate 100% of investments to growth assets, investors can potentially enjoy higher returns, particularly for those with a long-term investment horizon who feel at ease navigating the fluctuations of market cycles.
Peter Forster (pictured above), BNZ’s general manager of wealth, said the funds cater to people willing to endure market volatility over their investment journey.
“We’re excited to give our customers the choice of a fund that will suit people who are prepared to weather the inevitable market turbulence through their investment journey,” Forster said.
Despite the aggressive investment approach, BNZ has opted to maintain a low fee structure, charging only 0.45% per annum for the two High Growth Funds. This fee is consistent with the majority of BNZ KiwiSaver Scheme and YouWealth funds, except for the BNZ KiwiSaver Scheme Cash (0.30% p.a.) and Default (0.35% p.a.) funds.
“A management fee of just 0.45% for funds that invest 100% in equities represents real value in a market where investors are frequently charged in excess of 1% for more aggressive funds," Forster said.
Upgraded KiwiSaver tool launched
BNZ is also introducing an updated version of its KiwiSaver Navigator tool, designed to recommend the High Growth Fund when suitable and offers users a detailed breakdown of actions needed to align with their savings targets. Recommendations may include adjustments to contribution rates, changes in fund choices, or revisiting retirement or first home purchase timelines.
BNZ customers can request a KiwiSaver Navigator session by visiting a BNZ branch or contacting the bank over the phone.
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