New Superannuation Initiative Launched

Media Release
22 August 2007

ABN AMRO Craigs Launches New Superannuation Initiative
kiwiSTARTTM

Investment flexibility, transparent costs and leading advice are the cornerstones behind kiwiSTARTTM, ABN AMRO Craigs’ new superannuation initiative just launched.

kiwiSTARTTM offers individuals a sophisticated KiwiSaver product.

“Our scheme provides not only a range of defined portfolios, but also personalised solutions. Investors, with the support of an Investment Advisor, can select the securities they wish to invest in, thereby tailoring their investments to their personal circumstances,”explains Stephen Jonas, Head of Client Services at ABN AMRO Craigs.

With kiwiSTART™, clients who already have investment portfolios are given the opportunity to manage their investment risks over their entire portfolio rather than treating superannuation as a discreet and separate investment.

The scheme also incorporates the key tenets of ABN AMRO Craigs’ investment philosophy. “We invite clients to monitor the composition of their investment, and help them understand investment markets, risks and rewards. A key component of our philosophy is to minimise costs and provide a full disclosure of fees,” says Jonas.

ABN AMRO Craigs’ core expertise is providing quality investment advice for its clients. “New Zealanders need to better understand superannuation investment,” explains Jonas. “They should understand exactly what they are investing in and the risks associated with that investment. They should also always seek sound professional advice.”

Mr Jonas says that making the wrong choice with a KiwiSaver scheme provider can be costly with those who change schemes potentially incurring additional entry and exit fees. He also warns that headline rates or fees may appear low but the full costs and expenses may not be apparent and expert advice is required.

ABN AMRO Craigs has over 100 Investment Advisors throughout its 16-branch network, helping clients make more informed investment decisions. The company has not participated within the superannuation space previously, but with years of investment management experience, KiwiSaver provides an opportunity to broaden the range of services it offers for both existing and potential clients.

“As we have designed kiwiSTART™ to be flexible, we are able to encapsulate elements of socially responsible investing, by incorporating a range of SRI options as part of our personalised investment choices,” says Jonas.

Although its product differs by enabling greater individually managed accounts, people who sign up to kiwiSTART™ will still qualify for all the Government incentives to which they are entitled..

ENDS

For a kiwiSTART Investment Statement please phone 0800 878 278, or visit our website www.abnamrocraigs.com

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