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Who bought Kiwi wealth?

KiwiSaver provider Kiwi Wealth has been sold to Fisher Funds for $310 million. Photo: Kiwi Wealth is part of the state-owned Kiwi Group Holdings, which includes Kiwibank, and the sale to Fisher Funds was widely tipped with the price at the lower end of expectations.

Who started KiwiSaver in NZ?

A policy initiative of the Fifth Labour Government of New Zealand (in office 1999\u20132008), KiwiSaver is governed by various Acts of Parliament, including the KiwiSaver Act 2006 (passed in September 2006).

When did KiwiSaver start?

From 1 July 2007, when KiwiSaver started, all employers have been required to automatically enrol their new employees in KiwiSaver, unless the employer already provided access to compliant superannuation schemes [1] or the employee was exempt from automatic enrolment.

Why was KiwiSaver created?

KiwiSaver is part of a package of government initiatives designed to increase saving by New Zealand households. It encourages a long-term saving habit and asset accumulation by those who want to enjoy more than a basic standard of living in their retirement.

Who is Fisher Funds?

Fisher Funds is one of New Zealand's largest specialist investment managers with over 250,000 Kiwis invested across KiwiSaver and Managed Funds.

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