As KiwiSaver celebrates its 17th birthday, it reaches a remarkable milestone, surpassing $100 billion in funds under management. The 2024 Financial Markets Authority (FMA) Annual Report reveals that KiwiSaver now oversees an impressive $111.8 billion for over 3.3 million members, marking a substantial 19.3% growth year-on-year. The report highlights a significant rebound in investment returns, with net returns soaring to $13.1 billion, while total contributions also surged to $11.2 billion. KiwiSaver continues to enhance efficiency, reflecting its evolution as a key player in New Zealand’s retirement landscape. As the scheme matures, it promises to foster financial independence for New Zealanders, focusing on educating members about their fund choices and maximising long-term savings.
As ChatGPT transforms digital landscapes, countries like India, Morocco, and the UAE are leading the charge in AI adoption. While emerging markets utilize this tool for education and job preparation, wealthier nations explore it out of curiosity. Despite mixed global sentiments, enthusiasm for AI is notably strong in developing nations, where optimism for its potential thrives.
Discover how the recent BRICS expansion, including Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE, is set to reshape global trade and economic power. This article explores the implications of the expansion on global economic growth, the projected rise of BRICS economies, and the future dynamics of the group.
The Massachusetts Investors Trust was the first open-end mutual fund, meaning it allowed investors to buy in or sell out at the net asset value of the shares, which was calculated daily. This feature differentiated it from closed-end funds, making it far more accessible and flexible for individual investors.
Darren Howlin, who formerly provided the qualitative analysis for FundSource and its awards, is setting up a new fund research business in New Zealand.
FundSource finally sold, but others are looking at the research market.
The NZX has finally announced a sale of its fund management research business FundSource to an Australian company - however the deal is still conditional.
For a more in-depth look at the FundSource Fund Manager of the Year Awards and how winners decided, we have Chief Judge, Darren Howlin in the Good Returns TV studio to explain the process.
The NZX is working with “several” parties on the sale of its funds management research business, FundSource.