Balances are increasing in KiwiSaver accounts and Summer is focused on delivering members flexibility and choice.
These are multi asset class funds with a conservative or growth investment profile. You can choose to invest fully in either of these new funds or utilise My Plan and invest in any combination of our funds including the Summer Balanced Selection which we outline below.
With the introduction of the new funds, we have also updated the name of the Summer Investment Selection to Summer Balanced Selection. The fund’s investment objectives and strategy remain unchanged, so that investment exposures will continue to be generally consistent with a balanced investment approach. The purpose of the name change is to assist members to compare between the Summer Conservative, Balanced and Growth Selection.
Our fees are simple and like our other funds, the Summer Conservative Selection and Summer Growth Selection incur an annual fund charge of 0.9% p.a. of the value of your investment. The account fee remains unchanged at $36 per member per year. You can see more detail on our fees here.
If you are a member of the scheme you do not need to take any further action. You will simply see the name change and new fund options on our website available to you when you are making a switch.
It is easy to switch online. Simply login and select switching my investments. There is no fee to switch.
Determining your investment profile is easy, just complete five simple questions selecting the single best option for each and this will help guide you. Alternatively please contact your Authorised Financial Adviser for advice.
We are here to help. Call us on 0800 11 55 66 or complete the form here and we will be in touch.