Thursday 15th March 2012
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Fisher Funds, which has more than $1 billion under management, has added another 4,000 members to its KiwiSaver scheme after announcing a partnership with the New Zealand Association of Credit Unions.
The fund manager run by high-profile Carmel Fisher has applied to the Financial Markets Authority to transfer the NZACU’s existing KiwiSaver members into its own vehicle, the credit union association said in a statement.
“The Fisher Funds KiwiSaver scheme will provide Credit Union KiwiSaver scheme members with both lower costs and a greater level of member communication,” chief executive Henry Lynch said. “This step will further enhance our ability to provide credit union members with solutions to help secure the future retirement needs.”
Fisher Funds entered the big-time last year when it bought Huljich Wealth Management’s KiwiSaver scheme with some 87,000 members holding entitlements of $191 million. The fund manager’s scheme now has some 110,000 members.
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