Multiple Base Funds Now Offered With Sharesies Kiwisaver Scheme

As part of its aim to provide greater choice and control, Sharesies KiwiSaver Scheme members can now select multiple base funds.

Previously members had to choose one of six base funds, ranging from conservative to high growth for their entire investment plan. From today (11 September) members can add multiple base funds for even greater diversification.

Members can have as much or as little as they like in each base fund—as long as these total at least 50% of their investment plan.

“We recently added the Milford Aggressive Fund and we have big plans to add more,” says Sharesies Head of Kiwisaver Matt Macpherson. “Its important we make it possible to spread contributions across multiple base funds. Weve had lots of requests for this and were prioritising the features that are important to our members.”

In support of the ability to choose more than one base fund, Sharesies has upgraded its investment plan builder which is available on its website. This enables a dra investment plan to be created which allows members, or those considering joining the scheme, to view the overall make-up of their portfolio, including their personalised risk score and fee estimate. This plan can be saved and revisited.

Once changes are made, members can keep track of how their KiwiSaver investments are performing in the Sharesies app which offers details such as price history, returns, fees and holdings.

Matt Macpherson says at $110 billion funds under management, total KiwiSaver Funds are destined to keep growing and there needs to be innovation to support this growth. “We see so much potential, not just as a KiwiSaver offering, but this is a wealth creation opportunity for the country.”

About Sharesies

Sharesies, which has more than 700,000 investors across New Zealand and Australia, maintains one of Aotearoas largest retail investor datasets.

The wealth app empowers Kiwis and Australians to invest in more than 8,000 companies and funds across five exchanges in the US, Australia and New Zealand, with no minimum investment. Sharesies has more than NZ$3 billion in funds under management.

Over the past year, Sharesies has launched Save, Staff Shares, and a KiwiSaver scheme. It also launched a partnership with Fonterra, New Zealands largest company, enabling farmers to manage Co-op shares through the platform. Sharesies is a certified BCorp, committed to delivering a positive impact for its customers, suppliers, workers, community, and the environment.

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