A positive change for us: a new investment partner
In July we brought on board BlackRock* as our new investment partner. They’re the world’s largest investment management firm, with world-class expertise.
BlackRock now manages our ASB KiwiSaver Scheme along with our other managed funds for asset allocation and currency decisions (where and how we invest). We decide what we want each fund to achieve – growth, stability, or something in-between – and BlackRock work with us to design the best ways to achieve those objectives.
We’ve already made some big changes to our asset allocations following their recommendations. You can read more about them in our recent blog about September’s results.
We removed our admin fee
From 1 October we removed our administration fee.
It was an annual fee of $30, which we’re now very happy to be adding to your savings! Delivering even better value for customers and generally saving our members up to 24% in fees.14
You can read more about this on our blog: Your KiwiSaver fees are going down.
Five years Platinum!
In the past month, we were notified that the ASB KiwiSaver Scheme had been given a Platinum rating by SuperRatings – the highest possible rating. SuperRatings evaluates KiwiSaver schemes on investment performance, fees, member servicing, admin and governance.
Not only did we receive a Platinum rating – it’s the fifth year in a row that ASB received this Platinum rating. We’re proud to be able to use the Five-Year Platinum Performance title from SuperRatings.
We’ve helped the future of thousands of people with good advice
At ASB we understand that everyone is different and talking about money can be tricky. One of the easiest options available is to use our team of KiwiSaver specialists. They can chat with you about your current situation for free and provide a recommendation for what fund suits you best, based on your savings goal and timeframe.
We feel getting advice is such a key factor in making the most of your savings, so we ran a campaign earlier this year offering all New Zealanders with a KiwiSaver account, 250 chances to win a $1,000 boost to their KiwiSaver savings. This was open to all KiwiSaver members regardless of who their provider was - this is how important we think getting advice is.
From January to November this year, we’re happy to say we had around 40,000 conversations using our advice tool, helping New Zealanders get to their KiwiSaver saving goal sooner.
We’re keeping our members informed
We want everyone to have a very clear picture of their KiwiSaver savings and their options. After all, our members are the ones who should be in the loop around how we invest and the best ways for them to meet their goals. From April this year, we’ve sent almost two million messages and emails to our members, to keep them completely informed and aware of any changes they could make to better meet their savings goals.