DLA Piper helps establish Koura
Kōura is a new robo-advised KiwiSaver scheme.
DLA Piper has acted for Kōura from inception, finessing its licensing as a managed investment scheme manager and obtaining an authorisation to provide robo-advice. DLA Piper also advised on the actual launch of the Kōura KiwiSaver vehicle.
Kōura has established six passively-managed funds: three with global manager Blackrock, and three domestic investment vehicles. Investors can choose to invest directly into those funds, but are encouraged to use Kōura's digital advice tool to place them in a mix of investments tailored to their personal needs, goals and appetite for risk.
DLA Piper Partner Rachel Taylor led this project, supported by solicitor Jennifer Smith. Rachel advises on managed investment scheme design, and the establishment of KiwiSaver and other collective investment schemes, and compliance with financial services legislation.
“It was good to be involved in the establishment of this innovative product, and to see a new KiwiSaver manager come to market” says Rachel Taylor. "Passive investment strategies drive lower fee structures, and the robo-advice overlay is designed to give personalised results to investors.”
Portfolio management algorithms (robo advice) have the capability of adjusting investments for an individual client. Within the six different funds are 200 portfolio permutations. This is a strategy that recognises different ages and stages of life, and changing priorities. It offers a weekly retirement income prediction, so that clients can input their own adjustments to best suit their varying goals.
Rachel says "Kōura has a number of
translations in te reo Māori, including gold and goal, with
a wider connotation of wealth and