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Member
But on fees every year you pay 0.6% to superlife or 1.1% to Milford of your total funds
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Originally Posted by p2r
But on fees every year you pay 0.6% to superlife or 1.1% to Milford of your total funds
Dont forget that Milford also takes a performance fee. Good incentive for them to do well but not well targeted in my opinion. A rising tide lifts all boats so a even if they perform well just because the NZX performs well, then they get the performance fee. Ideally it should be payable only if the fund performs over and above the index.
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Member
I have put my 4yr old and 7yr old into a westpac kiwisaver. I did have to open an account for them and make one deposit a year but at least they have no fees. They were briefly with fisher but i could see the fees would erode the intial capital especially since im not contributing at the moment for them.
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Originally Posted by ScrappyO
I have put my 4yr old and 7yr old into a westpac kiwisaver. I did have to open an account for them and make one deposit a year but at least they have no fees. They were briefly with fisher but i could see the fees would erode the intial capital especially since im not contributing at the moment for them.
I have considered to this for my baby but have decided against it at this stage. The benefit is the $1000 kick start but my view was this would be errored by inflation and fees by the time they are 18 (ie. when they start contributing) that the beneift is minimal and may have implications - ie. once in, you may not be able to elect out so he might have to do kiwisaver on his paper round.
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I am with Superlife but am starting to wonder about their investment decisions.
They have taken part in two placements (exclusive) recently at market value - Energy Mad and Wellington Drive. Considering both are basket cases, you would expect them to get the placement at a discount!
Any thoughts on this. Maybe I should have chosen Milford who was my second pick but I liked the flexibility to choose investment options at Superlife.
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Originally Posted by CJ
I am with Superlife but am starting to wonder about their investment decisions.
They have taken part in two placements (exclusive) recently at market value - Energy Mad and Wellington Drive. Considering both are basket cases, you would expect them to get the placement at a discount!
Any thoughts on this. Maybe I should have chosen Milford who was my second pick but I liked the flexibility to choose investment options at Superlife.
I totally agree. Are they are mad investing in MAD and WDT? Still, Milford recently invested in MOA!!!
I like Piefunds aussie portfolio of small caps. Have owned many of the stocks on his list in the past. However, expect it to take an exaggerated hit on a market correction.
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Noodle - Pie funds don't do Kiwisaver. I wish there was a DIY option for Kiwisaver like the Ozzies have
Just goes to show the lack of good investments in NZ for the flood of Kiwisaver funds
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Originally Posted by CJ
Noodle - Pie funds don't do Kiwisaver. I wish there was a DIY option for Kiwisaver like the Ozzies have
Just goes to show the lack of good investments in NZ for the flood of Kiwisaver funds
Totally agree about the self-managed funds. Perhaps if kiwisaver becomes compulsory, this might be an option. I don't like other people managing my money. Not even Brian Gaynor
DISC: Not in Kiwisaver
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Actually, I think Craigs might do a hybrid self managed kiwisaver.
http://www.craigsip.com/Services/Kiw...RT-Select.aspx
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Originally Posted by noodles
I did look at that but I decided not to at this point because of high fees.
Annual fee Management fee Brokerage
Craigs: $60 1.25% 1.25% buy and sell
Superlife $33 0.3 - 0.77%* 0% to switch funds
*NZ shares is 0.4% by way of comparison.
As my fund gets bigger I might consider it but at this stage, the average fees per year would be quite high, and there would be a lot of buying small parcels (think about how much you would contribute each month - do you choose a share monthly or just wait till you get a reasonable amount ($5k+) which may take awhile at minimum contributions, even with an above average salary?).
NOte: From memory, in Australia even the providers dont recommend a self mananged super scheme unless your fund is over $100k due to costs, though you can throw all sorts of things in like your home and get a tax benefit.
Last edited by CJ; 19-12-2012 at 01:32 PM.
Reason: Edit: I tried to format the fees as a table but it appears as if that didn't work.
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