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QuayStreet KiwiSaver review
With 10 KiwiSaver funds on offer you can choose which works best for you, or create a mix
With 10 KiwiSaver funds on offer, QuayStreet Asset Management offers plenty of choice. From low-risk income funds to socially-responsible growth funds, you can invest in a mix of KiwiSaver funds to best suit your investment needs.
This article will examine QuayStreet KiwiSaver scheme, their fees, and sign-up process so that you can decide if QuayStreet is right for you.
QuayStreet Asset Management is owned by Craigs Investment Partners Limited, an investment firm in New Zealand. With over $180 million in assets under management, QuayStreet offers a compelling range of KiwiSaver plans — all of which are actively managed.
QuayStreet KiwiSaver funds
There are 10 QuayStreet KiwiSaver funds for you to choose from, ranging from a conservative Fixed Interest Fund to a high-growth Altum fund. In general, conservative KiwiSaver funds tend to primarily contain low-risk assets like fixed income, while high-growth funds are overweight in high-risk assets like international equities.
Here is an overview of each QuayStreet KiwiSaver fund, ranked from lowest to highest risk level.
- Fixed Interest Fund. This actively-managed fund consists of a mix of fixed interest and derivative investments.
- Income Fund. With its mix of income-producing assets like fixed interest, equities, and derivatives, this portfolio focuses on capital preservation and moderate growth.
- Conservative Fund. A fund that invests in diversified low-risk assets, such as fixed-interest, to cater to investors with more conservative risk appetites.
- Balanced Fund. Consisting of both income and growth assets, this KiwiSaver fund aims to provide stable long-term returns.
- Socially Responsible Investment Fund. A portfolio that solely invests in socially and environmentally responsible retail funds. This includes both income and growth assets.
- Growth Fund. With a higher weighting towards growth assets, this fund aims to provide higher returns in the long term.
- NZ Equity Fund. This fund invests solely in New Zealand companies and targets to deliver long-term returns above that of the New Zealand stock market.
- Australian Equity Fund. A fund that invests exclusively in Australian companies and targets to deliver long-term returns above that of the Australian stock market.
- International Equity Fund. This fund invests in a diverse mix of international equities to deliver aggressive growth in exchange for higher levels of portfolio volatility.
- Altum Fund. As the highest-risk fund offered by QuayStreet, this fund offers a concentrated portfolio of equities, cash, fixed interest, and derivatives to deliver high growth.
Remember:you don’t have to choose one specific fund. You could always select a combination of funds that best fit your investment objectives.
QuayStreet KiwiSaver fund fees
These are the fee types to take note of when investing with QuayStreet.
- Annual fund charge. QuayStreet charges an annual fund charge which ranges from 0.78% – 1.58% per annum.
- Administration fees. An annual administration fee of $30 applies, with additional scheme fees of approximately $15.
- Performance fees. Depending on your fund’s performance, additional performance fees may apply.
We encourage you to check with QuayStreet on the precise fund fees you might have to pay before choosing a KiwiSaver scheme. Ultimately, the precise amount in fees could depend on your fund type and KiwiSaver balance.
What other products does QuayStreet offer?
If a KiwiSaver fund isn’t for you, you can always invest in the same KiwiSaver plans as managed funds instead. This may be a more suitable choice if you want the flexibility of being able to withdraw your investment beyond the restrictions of the of the KiwiSaver scheme.
How do I sign up?
To join QuayStreet’s KiwiSaver plan, simply sign up through QuayStreet’s website. Select your chosen plan and read the product disclosure statement. Following this, click “apply online”. Fill up the online application form including selecting your chosen plan, providing personal details, and verifying your sources of income.
Once you’ve submitted your application, QuayStreet will get in touch with your account details.
To invest with QuayStreet, you must first be eligible to join their scheme. You need to be:
- A New Zealand citizen,
- Entitled to live in New Zealand indefinitely
You can join QuayStreet regardless of whether you’re employed, self-employed, or unemployed.
You may need to provide the following documents during your application.
- IRD number
- Driver’s license or New Zealand passport
QuayStreet offers 10 different KiwiSaver funds that can be mixed and matched to suit your investment needs. While fund fees are relatively high, it’s a worthwhile trade-off for the level of customisation you get to enjoy.
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