Children are eligible to join KiwiSaver. Enrolling your children in KiwiSaver qualifies them for:
The $1,000 kickstart from the Government
Joining is easy. Just follow the in's and out's as detailed below.
We do not require an initial contribution nor is there a minimum annual contribution. Your child will need an IRD number and one form of ID to setup an account. Click here to obtain an IRD number application form.
Your children will need to contribute to KiwiSaver when they begin paid employment (even if it is an after school job). However, once they have been in KiwiSaver for over a year, they are entitled to take a contributions holiday.
You can make voluntary contributions to your children’s Kiwisaver accounts at any time. If you do wish to set up a savings regime for your children you may want to consider alternatives outside of KiwiSaver as there is no restriction on accessing funds like there is with KiwiSaver. Feel free to call our Client Services team on 0508 347 437 to discuss how Fisher Funds other investment options may be able to help.
Enrolling your children in KiwiSaver is a great way to kickstart their investment future. Fisher Funds takes a proactive stance on educating members and your children will benefit from learning about saving and investing.
Getting your children into a savings regime from an early age is a great start for their financial future. Fisher Funds proactive stance on educating members also means they will continue to learn about saving and investing.
However, KiwiSaver does have restrictions on accessing funds. In additition, your children will need to contribute to KiwiSaver when they begin paid employment (even if it is an after school job), so you may want to consider alternatives outside of KiwiSaver.
Feel free to call our Client Services team on 0508 347 437 to discuss how Fisher Funds other investment options may be able to help.
We believe the best way to grow the real value of your investment is to invest in growth assets.
Growing the real value of your investment is vitally important in any long term savings plan. Simply putting your money in the bank on term deposit is safe but will see the purchasing power of your investment reduce every year as up to 38% of the interest earned can be lost in tax.
Even a 2% improvement in average return per year makes a significant difference in the value of your savings at retirement. The graph below clearly illustrates how much of a difference a 2% improvement makes.
Historically shares have provided the best long term growth.
Fortunately, under NZ tax regulations, capital gains from the sale of shares in New Zealand companies and Australian resident companies included in the Australian All Ordinaries Index are not taxed, which helps to increase your return relative to income-focused investments.
The graph below illustrates the difference in the retirement value of a KiwiSaver investment based on returns that are 4.5% p.a. and 6.5% p.a. respectively. Historically the return on growth assets, such as shares, has been more than the return on more conservative investments such as bonds.
Results are simulated in this chart. This analysis assumes an investor starts saving at age 23 with an annual salary of $35,000. Their salary rises steadily at 3.5% p.a. until age 65 when they retire. Of this salary they contribute an after tax 4% to their KiwSaver Scheme and their employer contributes 2%. Two investment return assumptions are presented. One is an assumed return of 4.5% after tax and fees each year. The other is an assumed return of an additional 2% making a total return of 6.5% after tax and fees each year. All portfolio amounts are shown in today’s dollar terms.
By presenting portfolio amounts in today’s dollar terms, we have stripped out the impact of inflation from the results, so as to compare purchasing power at retirement with today’s oprices for goods and services. Inflation is assumed to average 2%.
The assumed returns are illustrative only and do not reflect the actual or prospective performance of the Scheme or of any investment fund. The returns to members of the Scheme are subject to investment and other risks (including loss of income and principal invested) and no amount of returns is promised or guaranteed. Returns will vary depending on the investment performance of your chosen investment fund or funds.
One of the great things about KiwiSaver is that you can choose your own provider. We firmly believe people should make an active choice and if you are looking for a KiwiSaver provider that has:
A strong track record
A straightforward and time tested investment strategy, and
A reputation for open and honest communication
Then you should seriously consider Fisher Funds.
Here are a few simple reasons why:
We are a specialist investment manager, channelling all our efforts into achieving investment returns. Our key staff own Fisher Funds – this means that our interests are directly aligned with yours.
We have a straightforward approach. We simply invest in good quality, proven investments. When we tell you about our investments and why we've made them, you'll see that thye just make sense.
We try to know more about our companies than any other investor. We visit them often, know them well, and in many cases, have owned them for a very long time.
We choose our share investments company by company and only invest after we have completed a thorough analysis of each business, its competitors and its management. We believe that this thorough research approach minimises the risk of nasty surprises.
Our approach has been time-tested over twenty years. We recognise that past performance is no guarantee of future results, however our investment style has been successful in good times and bad. We are the top performing NZ equity Fund Manager over the last 7 years(as measured by FundSource & Morningstar).
Open and honest communication = transparency. Since Fisher Funds establishment in 1998 we have found that investors appreciate knowing where their moeny is invested and why. We send a monthly newsletter keeping you up to date on where your savings are invested, the performance of each Fund and developments in KiwiSaver. Our website is updated regularly with latest unit pricing and material announcements and you can also access your KiwiSaver account online 24/7.
Investment custody = security. All investments are held in the name of the Scheme by TEA custodians Limited (a subsidiary of Trustees Executors Limited, NZ's oldest trustee company). Trustees Executors Limited supervises over $29 billion of investor's assets.
Our mission is to make KiwiSaver easy for you from the day you join until long after you retire!
The Fisher Funds Growth KiwiSaver Scheme is a little bit different from other KiwiSaver schemes – it has a growth focus only. It invests in the shares of small to medium size New Zealand, Australian and International companies. We choose the investment mix across these markets for you.
We believe the best way to grow the real value of your KiwiSaver savings is to invest in growth assets.
Click here to view the current KiwiSaver portfolio.
We like small, growing companies
The Fisher Funds Growth KiwiSaver Scheme will invest in the shares of smaller, growing New Zealand, Australian and International companies that have the potential for substantial growth. Smaller companies tend to be overlooked and under-researched by other investors, giving us the opportunity to find some real gems. We also prefer smaller companies because they are usually easier to understand, compared with large multi-faceted corporations.
It is not our intention to buy shares in new or unproven companies, nor do we look for bargain stocks. We look for quality and are prepared to pay for it. You may recognise many of the New Zealand portfolio companies that the Scheme intends to invest in but perhaps fewer of our intended Australian or International companies – you won’t find any large banks or industrial companies – though each will be a market leader in its sector.
Once we buy shares in a company, we generally hold them for the long term, unless the fundamental reason for buying no longer exists. After all, if you find a great business, why would you not want to hold on to that business forever?
While value is important, growth is absolutely critical
If we had the choice between investing in a cheap company (whose assets were worth more than the share price) and a company that was not necessarily cheap, but that could double its profits in three years, we would choose the latter. We prefer companies that can consistently grow their profits and thereby increase the value of the business over time.
We strive to know more about our portfolio companies than anyone else
We are close to all our portfolio companies, visit them regularly and get to know the management teams well. We never invest in a company without first meeting the management and we pride ourselves on the relationships that we have established with the management teams of many successful businesses in New Zealand, Australia and internationally. We recognise the significance of a company’s board in determining strategy and direction, so we meet with the directors of each company in which we invest, at least once a year.
Our favourite company will be our largest investment
We are stock pickers who invest in companies on the basis of their individual merits. The company that we like the most will have the largest position in our portfolio. Our portfolios are concentrated, typically having between 10 and 20 stocks in each of New Zealand and Australia and 30 to 40 internationally at one time. We do not want too many holdings so as to dilute our efforts and knowledge, but we want enough to reduce the risk if something goes wrong. We believe there will always be companies that will do well, irrespective of the economy or market environment. We are constantly searching for these businesses.
We have the ability to invest in both listed and unlisted companies; however you can generally expect that at least 90% of the Scheme will be invested in listed companies. While we like the idea of buying an unlisted company at a relatively low price, we are mindful that the listed environment gives us greater protection and ensures that we get regular information about each company.
Our investments will favour smaller, growing companies; however if a company grows to become a large company, it is our intention that the Scheme will maintain its holding. If we find a company that otherwise meets all our criteria, we will not exclude it from the portfolio based on size.
We manage concentrated portfolios, rather than having numerous small holdings which don’t add much to the overall portfolio return. Our favourite companies might individually comprise 10%-15% of the portfolio, whereas new companies that we are still getting to know might individually comprise 2%-3% of the portfolio.
Conservative Fund - 12 June 2009
How has the fund performed as at 28 February 2010
Fund Pre-tax Returns
One Month
Three Months
Six Months
Twelve Months
Two Years*
Since Launch*
Growth KiwiSaver
- 0.4%
+ 3.0%
+ 8.6%
+ 46.5%
+ 8.2%
+ 1.65%
Conservative KiwiSaver
+ 0.13%
+ 0.16%
+ 0.46%
n/a
n/a
+ 0.40%
* Annualised return before tax and after fees
The above returns are based on the percentage change in the unit price of the fund for the period specified, they are not the returns individual investors will receive as this will depend on the prices at which units are purchased on the date of each individual contribution. Changes in the unit prices reflect changes in the market value of the assets of the fund. The above returns exclude government contributions and no allowance has been made for monthly administration fees. Returns displayed are after management fees but before tax.
Growth Fund Performance as at 28 February 2010
Graph illustrates cumulative increase in unit price (after fees and tax)
How do we compare?
In short, very well.
KiwiSaver is a long term savings plan. Our investment approach is focused on generating meaningful investment returns over the long term.
When comparing returns it is important that you compare “apples with apples” i.e. schemes with similar investment strategies.
Morningstar has just released its quarterly KiwiSaver Performance Survey to 31/12/09 which can be viewed by clicking here. As you’ll see we rate amongst the top performing growth or aggressive schemes with the best returns for the year to 31/12/09 and the 2nd best returns over 2 years for the KiwiSaver growth and aggressive sectors.
A couple of Morningstar’s comments are worth highlighting and we have included them below:
"Last year proved to be a terrific time for growth assets, illustrating how quickly markets can turn. Investment markets were highly volatile in 2009, continuing to slide downhill in the first quarter before staging a significant recovery over the following nine months.
While many commentators are predicting a "V"-shaped recovery, the outlook for global growth is far from settled, and investors should be prepared for further volatility in returns. We continue to believe that investors with a number of decades until retirement age are best-served by the diversified KiwiSaver options with overweights to growth assets".
Source: Morningstar Performance Survey to 31/12/09 dated 23/02/2010
To keep track of performance on a more regular basis the Sunday Star Times now has a weekly KiwiSaver facts and performance update in the Business section. Information is supplied by Morningstar.
You can either:
a. Complete our online application form, or
b. Contact our team on 0800 FFKIWI (0800 335494) or complete the form below to receive a KiwiSaver information pack:
* indicates required fields
Complete and sign the Application Form (on pages 25-26 of the Investment Statement).
To view a sample completed Application Form click here.
Before sending in your Application Form, please be sure to do the following:
1. Read the How to Join section on pages 23-24 of the Investment Statement
2. Sign the Application Form
3. Include a copy of your identification as required
4. Keep a copy of your Application Form
Return the original Application Form by post to:
Fisher Funds Management Limited
C/- Trustee Executors Superannuation Limited
PO Box 409
Wellington, 6140
If you are an employee, please ensure that you inform your employer that you have selected Fisher Funds as your KiwiSaver scheme provider, how much you want to contribute (i.e. 4% or 8%) and when you want your contributions to start. As you have dealt directly with Fisher Funds you do not need to complete the IRD’s KS2 form.
Please contact us on 0800 FFKIWI (0800 335 494) if you require any assistance completing the Application Form.
What happens next?
Once we have received your Application Form, we will send you written confirmation of your membership. You will also receive our monthly investor newsletter by email.
You and your employer will also receive written confirmation from the IRD that you have joined our scheme. Please be aware that there may be delays with the IRD process.
You can keep track of your balance and transactions via our online access facility which updates daily. The unit price for the Fisher Funds KiwiSaver Scheme is also updated on our website daily. You will also receive quarterly transaction statements and an Annual Report from the trustees of the Fisher Funds KiwiSaver Scheme.
One Month
