KiwiSaver Scheme Performance data available

Press Release from Gareth Morgan KiwiSaver LTD
Mediapak: METROPAK
21 October 2010

Gareth Morgan KiwiSaver Scheme Performance data publically available

The Morningstar 3-year KiwiSaver performance survey released this morning made a bit of a spectacle of the Gareth Morgan KiwiSaver Scheme by claiming the scheme “declined to disclose the required information to participate in this survey”. But those who know Gareth Morgan’s KiwiSaver Scheme know that full disclosure is the Scheme manager’s middle name. Our three year performance data on the same basis as Morningstar reports other providers is available from the Scheme’s website and has been available to the public for the past couple of weeks.

GMK Fund 1 year performance %pa 2 year performance %pa 3 year performance %pa
Growth 0.8% -2.1% -3.0%
Balanced 3.3% 1.4% 0.8%
Conservative 5% 4.1% 3.9%

Andrew Gawith, Director Gareth Morgan KiwiSaver Limited—“We made it clear to Morningstar and publically recently that we don’t believe KiwiSavers can totally rely on Morningstar’s data to compare KiwiSaver providers. The Gareth Morgan KiwiSaver Scheme has moved to GIPS (Global Investment Performance Standards) for reporting its performance – the first and only provider to do so. The Government has made it clear that it wants KiwiSaver providers to produce robust and comparable performance data; it is actively looking for a standard that it can require the industry to meet. GIPS is the obvious standard to adopt.”

GMK’s monthly performance compared to benchmark and calculated according to GIPS standards is available at http://gmi.co.nz/Pages/KiwiSaver/Performance.aspx

END

© Scoop Media