KiwiSaver, New Zealand’s nationwide pension scheme, has boosted its assets under management to NZ$11.63 billion as of the end of last year.
Funds under management rose 7.5 per cent or NZ$580 million on December 31 from September 30 when they were $10.82 billion.
“There have been very strong flows, $500 billion a quarter for several quarters,” says Daniel Morris, an analyst at actuaries and researchers Plan For Life, that issued a statement on KiwiSaver.
“The fund has a fairly conservative investment strategy,” says Morris.
The fund has 1.9 million members out of a population of 4.4 million. Its investment options include cash, cash and bonds, bonds, cash and shares, shares and property and a mainly stock portfolio.
Morris expects a “steady, upward trend” of money flowing into KiwiSaver.