Fisher finally lands Kiwi Wealth
There have been concerns in the industry that Fisher Funds is buying back KiwiSaver default status after losing that position in a government review last year.
Kiwi Wealth is a default provider and manages more than $450 million for nearly 60,000 savers.
In a statement Fisher Funds says it will seek to retain Kiwi Wealth’s default KiwiSaver status. "However, there is a formal approval process to be worked through over the transition period."
Under the deal Fisher Funds will have a distribution relationship with Kiwibank - were the majority of Kiwi Wealth's KiwiSaver members have come from.
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