We've recently updated some of the legal documentation related to the Generate KiwiSaver Scheme. See details of the changes below, and download the latest documents.
Generate KiwiSaver Scheme: Product Disclosure Statement
Changes include:
- Reduced fees for the Focused Growth Fund, Balanced Fund and Growth Fund.
- The Defensive Funds Target asset allocation has changed from 15%/85% cash/fixed interest to 25%/75% cash/fixed interest. The fixed interest range has been increased from 65%-50%.
- Introduction of ongoing services; Members can now authorise certain ongoing service fees to be deducted from their accounts.
- Addition of the ability to implement what is known as ‘swing pricing’ so that trading expenses may be shared more fairly between investors, and the potential to implement soft dollar commission arrangements to help deliver additional value for the manager and members/investors from trading and brokerage expenses.
- Amalgamation of ‘Management Fee’ and ‘Other Administrative Charges’ into ‘Base Fund Management Fee’.
Associated changes were also made to the Generate KiwiSaver Scheme Trust Deed.
Generate KiwiSaver Scheme: Statement of Investment Policy
Changes include:
- Updates to asset classes; Property, infrastructure and fixed interest may more frequently hold internal asset classes, and the unlisted equity and property limit now also includes unlisted infrastructure.
Generate Unit Trust (Managed Funds) Scheme: Product Disclosure Statement
Changes include:
- Facilitation of two new Generate Managed Funds; the Thematic Managed Fund and Australasian Managed Fund.
- Reduced fees for the Focused Growth Managed Fund, and Balanced Managed Fund.
- Introduction of ongoing services; Investors can now authorise certain ongoing service fees to be deducted from their accounts.
- Addition of the ability to implement what is known as ‘swing pricing’ so that trading expenses may be shared more fairly between investors, and the potential to implement soft dollar commission arrangements to help deliver additional value for the manager and members/investors from trading and brokerage expenses.
- Amalgamation of ‘Management Fee’ and ‘Other Administrative Charges’ into ‘Base Fund Management Fee’.
Associated changes were also made to the Generate Unit Trust (Managed Funds) Deed.
Generate Financial Advice Policy (FAP) Disclosure
Changes to the the Generate FAP Disclosure will be made shortly to reflect and provide clarity to the ongoing service agreements