The Management Fee: The Manager charges a management fee for investment management and other functions. This fee is calculated on the gross asset value of each fund on each valuation day and paid in arrears. The current management fee for each fund is set out in the table below.
Fund
Management fee
Cash Fund
0.35% p.a.
Conservative Fund
0.85% p.a.
Conservative Balanced Fund
0.85% p.a.
Balanced Fund
0.90% p.a.
Balanced Growth Fund
0.95% p.a.
Growth Fund
1.00% p.a.
The Trustee Fee:
The current Trustee Fee is up to 0.065% p.a. and is calculated on the gross asset value of the ANZ KiwiSaver Scheme on each valuation day and paid quarterly in arrears.
The Administration Fee:
The Manager currently charges each member of the ANZ KiwiSaver Scheme an administration fee of $2.00 per calendar month for the day-to-day administration of member accounts. The fee is a fixed dollar value and paid in arrears. The fee will be deducted from the fund in which the member has the highest balance.
Switching Fees:
Switches are transfers between investment funds within the ANZ KiwiSaver Scheme either by switching the fund(s) your contributions are invested in and/or switching some or all of your existing investment between funds. You can make up to two switches a year for free. Thereafter, the Manager will apply a switching fee (currently $25) to each subsequent switch transaction. The switching fee will be deducted from the fund your investment is switched from.
For further information on how and when these fees are charged, and the expenses payable,
please see the ANZ KiwiSaver Scheme Investment Statement (PDF 1.20MB).
Terms defined and references construed in this webpage have the same meaning and construction set out in the current Investment Statement.
Subject to the KiwiSaver Act 2006, ING (NZ) Limited may alter the fees set out above and introduce new fees from time to time.
ING (NZ) Limited and Guardian Trust Superannuation Trustees Limited may recover administration expenses from the ANZ KiwiSaver Scheme.
The management fees, the trustee fees (up to 0.065% p.a.), and administration expenses (such as audit, registry, custodian, legal and certain postage fees) are met by way of deduction from investment income and assets, and are reflected in the unit prices of the relevant funds. Administration fees are paid from the fund in which you have the highest balance, your unit balance will be adjusted accordingly. The fund deducts these fees for tax purposes on your behalf. See the ANZ KiwiSaver Scheme Investment Statement for further information on fees and expenses payable. GST does not apply to any of these fees. Fees are subject to change.
Fees are deductible from income allocated to you by the ANZ KiwiSaver Scheme and cannot be claimed in your personal tax return.