The selection of NZX’s Smartshares as one of the six default KiwiSaver providers reflects a focus on low fees and a straightforward, transparent investment approach, says Smartshares CEO, Hugh Stevens.

Smartshares’ SuperLife KiwiSaver scheme cares for more than $1.2 billion on behalf of 31,350 New Zealanders.

Mr Stevens says the SuperLife KiwiSaver scheme has proven popular with members – “We provide financial wellbeing with a compelling combination of low fees and a passive approach to investing that we believe delivers better long-term results.

“Our KiwiSaver scheme has easy-to-use conservative, balanced and growth funds but also provides KiwiSavers who want more choice with access to a wide range of Smartshares Exchange Traded Funds. Our new default balanced fund will be an attractive option for cost-conscious New Zealand investors.”

He says the selection by Ministers following MBIE’s RFP process was a “huge endorsement of our scheme, our approach and what we are already delivering – both in terms of returns and service for our members”.

Mr Stevens says the new members allocated to the scheme from 1 December 2021 - 30 November 2028 would contribute to further growth in the SuperLife KiwiSaver scheme, and provide more New Zealanders with the flexibility to move free-of-charge across a total of 42 investment options to suit each member’s circumstances.