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Wednesday,
February 20, 2019 12:57PM / By Smart Investor
A new online tool called Smart Investor enables Kiwis to search and compare New
Zealand investments such as KiwiSaver, shares, bonds and other types of managed
products for the first time.
Housed
on the Sorted website, the portal offers the first opportunity for KiwiSaver
members to explore their fund’s investments in detail, and compare their fund
against other offerings.
Sorted’s
Managing Editor, Tom Hartmann, says that members would be able to see, for
example, the companies in which their KiwiSaver funds were invested, and decide
whether their money was invested ethically. Fees would be broken down and
compared against those of other providers, along with returns.
“The
tool will encourage greater transparency in the financial sector by revealing
everything to consumers about where their money is going, and how well their
provider is performing,” says Hartmann.
When
KiwiSaver members are ready to move on to other types of investing, they can
compare other managed funds, managed investments and share and bond offers. The
site also offers guides on investing and definitions of jargon.
“Our
aim was to break down the barriers to investing so that all New Zealanders could
benefit from this way of growing their money,” says Hartmann.
Smart
Investor has been built by three government agencies – the Ministry for
Business, Innovation and Employment (MBIE), the Financial Markets Authority
(FMA) and the Commission for Financial Capability (CFFC), which runs Sorted.
Its creation was part of the government fulfilling its role in enabling anyone
to compare information about financial products.
Scott
McMurray, FMA acting director of investor capability, welcomed Smart Investor as
a major step in helping people make informed decisions about their
investments.
“With
all the relevant information in one place, investors can review a whole range
of financial products, including KiwiSaver and managed funds, bonds and shares.
You can check how similar products compare with each other for fees and
returns, and also find out where and how your money is invested.”
The information the site provides is pulled from the Disclose Register run by the Companies Office. Financial Service Providers are required to provide this information as part of their legal disclosure requirements. Smart Investor is updated daily.
Consumers
do not have to input any personal information to access the site’s services,
which are independent and impartial.
“The
tool simply serves up heaps of helpful facts so Kiwis can make savvy
decisions,” says Hartmann. “It’s a safe environment to compare the many
investment options out there to help New Zealanders get ahead
financially.”
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