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Hot Topic Hawke’s Bay
General Business
3 mins to read
7

Market drop saw 'concerning' 54% increase in KiwiSaver switches: FMA

KiwiSaver returns plummet to negative $821m due to Covid impact.

Hamish McNicol Thu, 01 Oct 2020

The Financial Markets Authority is concerned by a 54% increase in people switching KiwiSaver funds during Covid-19 market volatility which saw overall returns fall to negative $821 million.

The market watchdog's KiwiSaver Annual Report for the year ended March 2020 showed there were more than

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Hamish McNicol Thu, 01 Oct 2020
Contact the Writer: Hmcnicol@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
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Tags
FMA KiwiSaver management fees Liam Mason
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Market drop saw 'concerning' 54% increase in KiwiSaver switches: FMA
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