Kia ora - full disclosure - I am an investor in the provider of this fund

They've done very well in building a company and new product segment from nothing in NZ. Annuities are new for NZers (previous market died out I believe related to previously unfavorable tax treatment).

Key thing to note this is at its heart an insurance product - insurance against market crash, insurance against interest rate decline, insurance against outliving your savings. For people who value those protections it may well be useful as part of a portfolio.

The product does allow for some capital preservation/appreciation if markets did very well in that you still have an exposure to your original assets (invested in a balanced asset allocation), however they are eaten away each year by the distributions, mgmt fee and insurance premium.

As an investor I've been extremely impressed by the manner in which the company conducts itself and thoroughness in all its activities.

FYI the "cheapest" way of getting exposure to this product is Simpliciity's version (lifetime still supply the insurance element)

https://simplicity.kiwi/kiwisaver/fu...d-income-fund/