Kiwisaver Strategy

[iceman]

I have just looked at my Kiwisaver holdings in some detail. I am invested in Simplicity Growth Fund. I find it alarming that 2 of Simplicity's own schemes, appear in the top 10 holdings overall and number 1 & 3 in their NZ portfolio.
Here are the 10 biggest holdings from highest to lowest: Apple, Microsoft, Simplicity Living Ltd, Fisher & Paykel, Simplicity Home Mortgages, NVIDIA , Spark, Infratil, Meridian.

I have been happy with this fund to date but this recent change concerns me. I don't like how Sam Stubbs can just decide where, when and how he wants to "do the right thing" and invest a large proportion of our Kiwisaver money into his schemes. As an example, his 2 schemes combined hold more of my Kiwisaver than any of the other holdings in the fund, including Apple, Microsoft & NVIDIA.


What do others think about this ?

[stoploss]

I have just looked at my Kiwisaver holdings in some detail. I am invested in Simplicity Growth Fund. I find it alarming that 2 of Simplicity's own schemes, appear in the top 10 holdings overall and number 1 & 3 in their NZ portfolio.
Here are the 10 biggest holdings from highest to lowest: Apple, Microsoft, Simplicity Living Ltd, Fisher & Paykel, Simplicity Home Mortgages, NVIDIA , Spark, Infratil, Meridian.

I have been happy with this fund to date but this has recently changed and I don't like how Sam Stubbs can just decide where, when and how he wants to "do the right thing" and invest a large proportion of our Kiwisaver money into his schemes. As an example, his 2 schemes combined hold more of my Kiwisaver than any of the other holdings in the fund, including Apple, Microsoft & NVIDIA.

What do others think about this ?

It's not so much "passive investment" is it if he can move the money into his own projects .

[iceman]

It's not so much "passive investment" is it if he can move the money into his own projects .

No definitely not. I think its time to do some research for an alternative. Then when I looked further down the list, Simplicity Living Limited Redeemable Preference shares appear at 13th biggest holding. More alarm bells !

[audiav]

No definitely not. I think its time to do some research for an alternative. Then when I looked further down the list, Simplicity Living Limited Redeemable Preference shares appear at 13th biggest holding. More alarms !

Same boat as you, except it’s my kids accounts, which have a pretty good whack in them, through good fortune rather than intentional. Wanted to switch them to Kernel but they still don’t offer kids accounts. MoneyKingNZ tries to review the different options while staying neutral.

[iceman]

Same boat as you, except it’s my kids accounts, which have a pretty good whack in them, through good fortune rather than intentional. Wanted to switch them to Kernel but they still don’t offer kids accounts. MoneyKingNZ tries to review the different options while staying neutral.

Just received an advice from Simplicity saying my money has been transferred from them. I am pleased as I am alarmed at what is happening to Simplicity's Kiwsaver funds.

[Waikaka]

Just received an advice from Simplicity saying my money has been transferred from them. I am pleased as I am alarmed at what is happening to Simplicity's Kiwsaver funds.

I had something similar with ASB kiwi saver a while ago. The degree of concentration was unsettling and then when I asked for specific holdings so I could asses exposure or leverage they wouldn't give that to me except in the most generally terms. Changed over to Craig's self selected. Get gouged on brokerage and fees but at least I can rest easy knowing exactly what I am invested in.

[Jaa]

Same boat as you, except it’s my kids accounts, which have a pretty good whack in them, through good fortune rather than intentional. Wanted to switch them to Kernel but they still don’t offer kids accounts. MoneyKingNZ tries to review the different options while staying neutral.

Are you with Kernel for your own account? They seem like a good option and a bit cheaper than Superlife.

Where did you move to Iceman if you don't mind saying?

[audiav]

Are you with Kernel for your own account? They seem like a good option and a bit cheaper than Superlife.

I do have a Kernel account, only hold Global 100 and Infrastructure unhedged