Two new funds for the Summer KiwiSaver scheme

KiwiSaver provider, Summer has launched two new funds to complement its successful
Summer Investment Selection and My Plan offers.

Summer Investment Committee Chair, Martin Hawes says the new funds will be known as
the Summer Conservative Selection and the Summer Growth Selection. The Summer
Investment Selection has also been renamed the Summer Balanced Selection.

“The new funds will provide a broader range of Summer KiwiSaver scheme multi asset class
options, at different risk levels, for those who prefer to leave the investment selection to us
rather than choose their own combination through My Plan,” Martin Hawes says.

The Summer Conservative Selection will include more cash and fixed interest investments
with fewer equity and property investments. Members can expect a fund with low to
moderate levels of movement up and down in value. The Summer Growth Selection will
focus on more equity and property investments, members can expect moderate to high
levels of movement up and down in value and to receive longer-term returns that are
higher than those of the Summer Balanced Selection.

Summer (launched in September 2016), offers members the opportunity to design their
own customised KiwiSaver accounts, known as My Plan. Alternatively, they can choose the
Summer Conservative, Balanced or Growth Selection which are funds made up of a mix of
cash, fixed interest, equity and property investment. The Summer Investment Committee
provides a general investment view to support asset allocation decisions.

“We have members who are active with their KiwiSaver accounts through My Plan but we also
have members who just leave it to us. Either way, we encourage members to take charge of their
KiwiSaver accounts and to make sure that they are making the most of their money”, Mr Hawes
says.

“Summer’s performance since its launch in September 2016 has been pleasing. For the 12
months to 31 March 2019 in the Morningstar Multisector - Balanced category*, the
Summer Investment Selection (now called Summer Balanced Selection) is ranked 1/57
funds,” Mr Hawes says.

Mr Hawes also notes that the Summer Product Disclosure Statement has again been awarded
the WriteMark — the hallmark of document clarity and quality.

As of 31 March 2019, Summer has over 3600 active members and approximately $125
million funds under management.

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