kōura kicks in with flat-fee pricing

08 October 2019

Written by Investment News

Investment News covers our launch, speaks about our kōura’s low fees and customer-focused digital advice platform. 

 

Robo KiwiSaver start-up kōura Wealth has set its pricing at a flat 0.63 per cent across all six underlying funds plus an annual membership fee of $30.

A product disclosure statement (PDS) published last week, says the “charges cover the fees of kōura, any external fund managers that we utilise, the Supervisor, the custodian and the administration manager”.

And while the stated fees also pay other scheme expenses such as accounting and audit services they exclude in-fund transaction and hedging costs with no buy/sell spread in place. If actual costs exceed the capped fees kōura “will bear the cost”, the PDS says.

The standard fee rates for all asset classes, including cash, follow a growing trend to equalise or at least flatten, the investment charges across risk profiles. Simplicity, for instance, offers a standard 0.31 per cent fee (plus $30 annual member charge) for its range of three KiwiSaver risk-weighted funds. BNZ recently slashed KiwiSaver fund costs (following a shift to an almost fully-passive approach) closely aligning higher risk and conservative portfolio fees.

 

Read the full article here


 

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