Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.




21 posts

Geek
+1 received by user: 2


# 208929 5-Mar-2017 19:57
Send private message

Hey all,

 

I'm considering switching to Simplicity Kiwisaver (simplicity.kiwi). The management fees for their growth fund is 0.31%, which is pretty damn cheap compared to other providers. I'm also a big fan of ETFs (exchange-traded funds), as opposed to stock-picking (or arguably, thumbsucks) by expensive fund managers. "You can't beat the market", and all that jazz.

 

Anyone used them? Any gripes?


View this topic in a long page with up to 500 replies per page Create new topic
 1 | 2
604 posts

Ultimate Geek
+1 received by user: 128


  # 1730526 5-Mar-2017 20:04
One person supports this post
Send private message

I swapped over about 4 months ago. The web page is good, nice and simple, fees are good, returns have been good so far

Received a call from the CEO about a month in asking if everything was good, did I have any suggestions, could they do anything :)

Clint

Edit: I am using their balanced fund for the first six months while seeing what their returns are in the growth fund

933 posts

Ultimate Geek
+1 received by user: 195

Trusted

  # 1730531 5-Mar-2017 20:12
Send private message

What type of reports / dashboard do they offer? How oftern do they publish / update these?





Please keep this GZ community vibrant by contributing in a constructive & respectful manner.


 
 
 
 


406 posts

Ultimate Geek
+1 received by user: 310


  # 1730536 5-Mar-2017 20:25
One person supports this post
Send private message

clinty: Edit: I am using their balanced fund for the first six months while seeing what their returns are in the growth fund

This doesn't make sense. Simplicity use Vanguard to manage their funds, and Vanguard are huge with a long track record. Also, 6 months is nothing for their Growth fund, which is designed to be more volatile and risky than Balanced ('volatile' and 'risky' are relative terms); the Growth is more like a 10-year return period. All you are doing by taking this approach to decision-making is gambling.

I'm using provocative language to make a point - you should not make an important investment decision on a 6-month limited performance assessment.

Simplicity seem to be passive managers who rely on Vanguard. From that perspective, if you like the Simplicity model, are confident of the people involved, and are happy with Vanguard, then there is no reason not to go with Growth from the get-go.

Don't take investment advice from me.




BlinkyBill

2208 posts

Uber Geek
+1 received by user: 430

Trusted

  # 1730538 5-Mar-2017 20:30
Send private message

clinty: I swapped over about 4 months ago. The web page is good, nice and simple, fees are good, returns have been good so far

Received a call from the CEO about a month in asking if everything was good, did I have any suggestions, could they do anything :)

 

Ditto here


604 posts

Ultimate Geek
+1 received by user: 128


  # 1730555 5-Mar-2017 21:01
Send private message

BlinkyBill:
clinty: Edit: I am using their balanced fund for the first six months while seeing what their returns are in the growth fund

This doesn't make sense. Simplicity use Vanguard to manage their funds, and Vanguard are huge with a long track record. Also, 6 months is nothing for their Growth fund, which is designed to be more volatile and risky than Balanced ('volatile' and 'risky' are relative terms); the Growth is more like a 10-year return period. All you are doing by taking this approach to decision-making is gambling.

I'm using provocative language to make a point - you should not make an important investment decision on a 6-month limited performance assessment.

Simplicity seem to be passive managers who rely on Vanguard. From that perspective, if you like the Simplicity model, are confident of the people involved, and are happy with Vanguard, then there is no reason not to go with Growth from the get-go.

Don't take investment advice from me.


I will not be making any decision based just on the 6 month returns, I am looking at the vanguard, historic returns, my employment situation, wether I will be withdrawing money in the next year or so, but felt that was a bit too much to included in the post script :) the 6 month period is the time frame I have given myself to investigate all the options as to wether to change to the growth fund

But we are going off-topic

I just checked and my fees so far have been around 2% of returns in total for the 4 month period


Clint

BDFL - Memuneh
63366 posts

Uber Geek
+1 received by user: 13868

Administrator
Trusted
Geekzone
Lifetime subscriber

604 posts

Ultimate Geek
+1 received by user: 128


  # 1730566 5-Mar-2017 21:37
Send private message

IcI:

What type of reports / dashboard do they offer? How oftern do they publish / update these?

they report each quarter for each fund - you can access these from their webpages with out Logging in

I like their layout, much better than my previous provider AMP

Breaks down your total into components Inc returns since you joined. Plus a nice graph showing projected totals untill 65 based on your existing contributions

Clint

3262 posts

Uber Geek
+1 received by user: 872

Trusted
Lifetime subscriber

  # 1730652 6-Mar-2017 08:48
Send private message

Just joined up, their fees are very nice, i was playing my current provider over 3 times the fees these guys charge.


731 posts

Ultimate Geek
+1 received by user: 75

Trusted

  # 1730683 6-Mar-2017 09:41
Send private message

Is there any guarantee, backed by the government, ensuring you get your money if they fail?





The little things make the biggest difference.


3621 posts

Uber Geek
+1 received by user: 972


  # 1730685 6-Mar-2017 09:47
Send private message

Shindig:

 

Is there any guarantee, backed by the government, ensuring you get your money if they fail?

 

 

"KiwiSaver is not guaranteed by the Government. This means you make your investment choices in a KiwiSaver scheme at your own risk."

 

http://www.kiwisaver.govt.nz/new/providers/


3262 posts

Uber Geek
+1 received by user: 872

Trusted
Lifetime subscriber

  # 1730686 6-Mar-2017 09:48
Send private message

Shindig:

 

Is there any guarantee, backed by the government, ensuring you get your money if they fail?

 

 

I don't think any kiwisaver has that.


731 posts

Ultimate Geek
+1 received by user: 75

Trusted

  # 1730696 6-Mar-2017 10:00
Send private message

OK, cheers





The little things make the biggest difference.




21 posts

Geek
+1 received by user: 2


  # 1731133 6-Mar-2017 18:48
2 people support this post
Send private message

Regarding Kiwisaver provider risk, read this: http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11257813

 

In particular:
"Craigs Investment Partners' Jonas says the key protection for members is all investments in a KiwiSaver scheme are held by an independent custodian, in the name of the scheme trustee and are not available to creditors of the manager should the manager become insolvent."

 

Seems ok to me.


406 posts

Ultimate Geek
+1 received by user: 310


  # 1732169 6-Mar-2017 21:53
Send private message

clinty:
BlinkyBill:
clinty: Edit: I am using their balanced fund for the first six months while seeing what their returns are in the growth fund

This doesn't make sense. Simplicity use Vanguard to manage their funds, and Vanguard are huge with a long track record. Also, 6 months is nothing for their Growth fund, which is designed to be more volatile and risky than Balanced ('volatile' and 'risky' are relative terms); the Growth is more like a 10-year return period. All you are doing by taking this approach to decision-making is gambling.

I'm using provocative language to make a point - you should not make an important investment decision on a 6-month limited performance assessment.

Simplicity seem to be passive managers who rely on Vanguard. From that perspective, if you like the Simplicity model, are confident of the people involved, and are happy with Vanguard, then there is no reason not to go with Growth from the get-go.

Don't take investment advice from me.


I will not be making any decision based just on the 6 month returns, I am looking at the vanguard, historic returns, my employment situation, wether I will be withdrawing money in the next year or so, but felt that was a bit too much to included in the post script :) the 6 month period is the time frame I have given myself to investigate all the options as to wether to change to the growth fund

But we are going off-topic

I just checked and my fees so far have been around 2% of returns in total for the 4 month period


Clint

Fair enough.




BlinkyBill

4330 posts

Uber Geek
+1 received by user: 94

Moderator
Trusted
Lifetime subscriber

  # 1732425 7-Mar-2017 12:34
Send private message

Can someone please confirm the fund management fees for me? I can see on their faq that it is 0.30%, @canaletto mentions 0.31% and their disclosure statement mentions both 0.31%.

 

I am trying to get my head around understanding some of the different schemes out there, and Simplicity is the first one I have found that has extra fees in their disclosure statement that is not clear on their website. Ie, the faq states 0.30% yet the disclosure states 0.31%. Also can anyone confirm the fees still need GST applied to them? Ie $30pa+15% and 0.31%+15?

 

Thanks

 

 

 

EDIT: corrected GST figures; thanks jonathon18


 1 | 2
View this topic in a long page with up to 500 replies per page Create new topic



Twitter »

Follow us to receive Twitter updates when new discussions are posted in our forums:



Follow us to receive Twitter updates when news items and blogs are posted in our frontpage:



Follow us to receive Twitter updates when tech item prices are listed in our price comparison site:





News »

Video game market in New Zealand passes half billion dollar mark
Posted 24-May-2019 16:15


WLG-X festival to celebrate creativity and innovation
Posted 22-May-2019 17:53


HPE to acquire supercomputing leader Cray
Posted 20-May-2019 11:07


Techweek starting around NZ today
Posted 20-May-2019 09:52


Porirua City Council first to adopt new council software solution Datascape
Posted 15-May-2019 12:00


New survey provides insight into schools' technology challenges and plans
Posted 15-May-2019 09:30


Apple Music now available on Alexa devices in Australia and New Zealand
Posted 15-May-2019 09:11


Make a stand against cyberbullying this Pink Shirt Day
Posted 14-May-2019 20:23


Samsung first TV manufacturer to launch the Apple TV App and Airplay 2
Posted 14-May-2019 20:11


Vodafone New Zealand sold
Posted 14-May-2019 07:25


Kordia boosts cloud performance with locally-hosted Microsoft Azure ExpressRoute
Posted 8-May-2019 10:25


Microsoft Azure ExpressRoute in New Zealand opens up faster, more secure internet for Kiwi businesses
Posted 8-May-2019 09:39


Vocus Communications to deliver Microsoft Azure Cloud Solutions through Azure ExpressRoute
Posted 8-May-2019 09:25


Independent NZ feature film #statusPending to premiere during WLG-X
Posted 6-May-2019 22:13


The ultimate dog photoshoot with Nokia 9 PureView #ForgottenDogsofInstagram
Posted 6-May-2019 09:41



Geekzone Live »

Try automatic live updates from Geekzone directly in your browser, without refreshing the page, with Geekzone Live now.


Support Geekzone »

Our community of supporters help make Geekzone possible. Click the button below to join them.

Support Geezone on PressPatron



Are you subscribed to our RSS feed? You can download the latest headlines and summaries from our stories directly to your computer or smartphone by using a feed reader.

Alternatively, you can receive a daily email with Geekzone updates.