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  1. #91
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    Quote Originally Posted by stoploss View Post
    Latest QTR Kiwisaver reports out .
    Juno aka PIE Funds has taken out # 1 in the Growth category ...not bad going in their first year .

    https://cdn.morningstar.com.au/mca/s...ey-Q3-2019.pdf
    What I don't like, the disclaimer:

    * Performance numbers supplied directly from the provider rather than calculated independently by Morningstar.

    A lot of information missing such as are the returns net of taxation, PIR 28%? FIF? Otherwise the reported returns can only be taken as a 'gross' figure quoted below:

    "Average multisector category returns over the September quarter ranged from 2.9% for the Growth category to 2.2% for the Conservative category."

    LONG term performance is key and while i'm being repetitive, Warren Buffet pointed out in the past that managed funds do not beat buying the index returns over a long term period. He won a wagered bet that they could not beat the S&P500 index. What i'm seeing in NZ is more $ is wasted on managed funds, administration fees, etc. via 'salesmanship' than actual returns to investors. I'm not seeing transparency in any of these NZ based fund when compared to say buying real estate in NZ. One thing is certain though, that $60B in Kiwi Savers invested gives IRD the ticket to tax all these funds (while the FMA basically locks out NZ retail investors out by directly buying ie an S&P500 Vanguard ETF through a US broker.

  2. #92
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    Adding to my last post, the last paragraph in the survey says it all:

    "Investors may notice differences between the returns published in this survey and those they see elsewhere. There are several possible reasons for this. First, the returns published here are after fees but before tax. Second, we take the associated tax
    credit into consideration when calculating and publishing these returns, while some fund managers base their published performance figures on month-end unit prices only. "



  3. #93
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    Nov 2015
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    Quote Originally Posted by SBQ View Post
    What I don't like, the disclaimer:


    Warren Buffet pointed out in the past that managed funds do not beat buying the index returns over a long term period. He won a wagered bet that they could not beat the S&P500 index. What i'm seeing in NZ is more $ is wasted on managed funds, administration fees, etc. via 'salesmanship' than actual returns to investors.
    YEP

    Numerous people agree with this. Great you tube presentation from "Cramer" from mad money on the same subject.

    Swapped last month from Kiwi Wealth to Simplicity. In the past GMI held a significant portion of Vanguard ETF, but this has now disapeared as has the leading performance of this fund, now struggling to hit thier own published benchmark.

    Wish I could buy the ETF directly.

  4. #94
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    Apr 2003
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    Wellington, New Zealand
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    Quote Originally Posted by mshierlaw View Post
    YEP

    Numerous people agree with this. Great you tube presentation from "Cramer" from mad money on the same subject.

    Swapped last month from Kiwi Wealth to Simplicity. In the past GMI held a significant portion of Vanguard ETF, but this has now disapeared as has the leading performance of this fund, now struggling to hit thier own published benchmark.

    Wish I could buy the ETF directly.
    You can buy the Vanguard ETF's directly on the ASX for what its worth. Not sure if that is what you mean though.

  5. #95
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    Aug 2004
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    Whanganui, New Zealand.
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    Quote Originally Posted by stoploss View Post
    Latest QTR Kiwisaver reports out .
    Juno aka PIE Funds has taken out # 1 in the Growth category ...not bad going in their first year .

    https://cdn.morningstar.com.au/mca/s...ey-Q3-2019.pdf

    thanks for the link, otherwise I wouldn't have read it. Re Growth funds, That No 1 fund Juno, is tiny, and new , still got pimples , so irrelevant to me. Simplicity doing well but only 3 years under the belt. Fisher doing well currently but ranking drops over the longer periods. Look at Milford Active !! I knew I should have chosen them but...

    I'm with Aon Russell 2045 only doing average for the year but 5th over a 10 year period. Yes their fixed fees are a little high, I know I should care about this but I just cant. Its fixed so becomes less and less a big deal.
    I like the option of choosing the year for redemption so you don't have to go from growth to balanced as time passes. That said 2045 is too far out but what I wanted.
    For clarity, nothing I say is advice....

  6. #96
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    Quote Originally Posted by blackcap View Post
    You can buy the Vanguard ETF's directly on the ASX for what its worth. Not sure if that is what you mean though.
    Thats good to know, many thanks. Some homework for me to do now.

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