I gave smartkiwi an email to investigate a couple of concerns that were raised in the thread.

My Email:
The management fee is quoted on the website being .65% for +$30,000. The ETF that smart kiwi invests in also have fees as well. Does that mean we pay the smartkiwi management fees and the ETF management fees?
Are there any fees for transferring between the different smartkiwi options i.e between growth, balanced, and conservative?
How long does it take to process a switch between two different smartkiwi options?
The smartkiwi website says that the growth fund invests in the FONZ and MOZY. What ratio does the fund invest each ETF?

Smartkiwi response:
No absolutely not. That would definitely be double dipping which would be very unfair and incredibly unethical. What happens is that Smarkiwi will pay the full management fee, this is unavoidable with the way the fund has been set up, however what we then do is continuously calculate a rebate which is paid to the fund to offset the fee. So the net result is that the member is only charged the advertised fee.

There is no charge for changing between funds. In fact you change every month if you wish. The only fee you will ever be charged for anything is the 0.65% management fee. This fee is all inclusive. No front end fee, no trustee fee, no brokerage fee just the management fee and thats it. If you decided to switch between funds it would take one week to complete the transfer.

The Growth Fund invests 60% of its assets in FONZ and 40% in MOZY. There is a small amount left in cash to facilitate transfers in and out however this is negligible.