TY - JOUR AU - Frijns, Bart AU - Tourani-Rad, Alireza PY - 2014/11/30 Y2 - 2024/03/29 TI - Kiwisaver, who is really reaping the benefits? JF - Applied Finance Letters JA - AFL VL - 3 IS - 2 SE - Articles submitted to regular issue DO - 10.24135/afl.v3i2.45 UR - https://ojs.aut.ac.nz/applied-finance-letters/article/view/45 SP - 12-15 AB - New Zealand KiwiSaver fund industry enjoys a near monopoly situation, with no exposureto international competition. Annual fees that KiwiSaver funds charge New Zealanders(which are now close to $350 million p.a.) are far above international standards and notjustifiable given their relatively poor performance since inception. We believe that allowingself-managed retirement portfolio investments by employees, expanding the menu ofinvestment choices including low cost international ETFs, and opening the industry tointernational competition will be beneficial for individual investors and the country as whole. ER -