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W & K

Investment Failures

FMA Seeks Clarity about Performance Fees

The FMA recently requested submissions on its draft guidance document on fees and returns from managed funds. This is an area that has been somewhat lacking in the past. It has been very difficult to make a real comparison between the total fees charged by Fund Managers on their respective funds.

Essentially there was some inconsistency in how performance-based fees were disclosed in disclosure statements under the Securities Act, and how managers were calculating 0% PIR returns and fund charges.

Is currency volatility a major concern?

For farmers and investors alike, currency movements have the potential to impact returns. Predicting currency movements is fraught with difficulty, and the situation can change dramatically in a relatively short time period. This has been the case with the fluctuating New Zealand dollar against the United States dollar over the last few weeks.

Gardening and Investing – Different but Similar

Over the past few weeks, Pride Whakatane have been running a garden competition. There were plenty of entries from dedicated gardeners throughout the district. We were fortunate enough to get to view a number of the top gardens. They were all a credit to the garden owners and those hard working organisers of the event.

Is there any more Sir?

New research shows that few retirees are living on the pension alone. If anyone is surprised by that finding, it is time they entered the real world. The research showed that even people living a frugal lifestyle are spending more than they get from NZ Super.

Annuities – Who is the Winner?

Increasing numbers of people who are members of KiwiSaver schemes are becoming eligible to access their savings. This is because they have reached the age of sixty five. Some of these people have significant amounts of funds. There has been some debate on what they should do with the monies. One option that has been talked about is to buy an annuity.

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