Aurora KiwiSaver becomes Hive, adds third-party managers

Hive chief executive Sharon Mackay says the change reflects its strategy to build an integrated, advice-led platform combining financial advisers, specialist investment managers and technology.

A key part of the revamp is the addition of three third-party investment managers – Harbour Asset Management, Munro Partners and Pie Funds – alongside incumbent manager Aurora Capital.

Independent investment consultancy Makao Investments was brought in by Hive to conduct due diligence on the incoming investment managers as part of the expansion.

The new manager line-up gives advisers and members access to a wider range of investment styles, while the expanded offering adds six investment options, taking the scheme to nine funds and two strategies.