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.
The kōura difference
Does KiwiSaver make your brain hurt? At kōura, we keep things simple. We ask you a simple set of questions to understand your goals and assess your risk appetite and then generate a portfolio that's entirely personalised for you. Our calculators allow you to see just how much you will have in your KiwiSaver balance based on what you're saving now and will even give you a weekly retirement income prediction. This enables you to get a realistic picture of much you can rely on your KiwiSaver savings for your retirement and what levers you can pull to give you the retirement you want. Give kōura a try now and see what your retirement will look like.