InvestNow adds another manager to its KiwiSaver scheme

The Generate Focused Growth Managed Fund has been added as another option for investors to use on the InvestNow KiwiSaver scheme.

Under the scheme investors can put together their own KiwiSaver scheme using a variety of managers.

Generate is a popular boutique KiwiSaver manager with more than $3.8 billion in funds under management across its KiwiSaver and retail product suite since launching in 2013.

InvestNow general manager Mike Heath says the firm's KiwiSaver members have a "clear preference" for growth-oriented strategies.

Adding the Generate Focused Growth Managed Fund is a logical step.

“The Generate fund is a great fit in our product range and meshes with our vision of creating a one-stop-shop where Kiwis can access high-quality investments from an easy-to-use online platform,” Heath said.

He says InvestNow KiwiSaver Scheme members, in particular, appreciate the ability to combine different growth managers to create bespoke, diversified portfolios.

InvestNow offers several growth funds from both external managers while also providing low-cost, tax-efficient options through the in-house Foundation Series.

Generate chief executive Henry Tongue says the move would open up a complementary client base for the firm, which to date has typically attracted members through a wide network of internal and independent advisers.

“We recognise that not all New Zealanders will want to use a financial adviser – and InvestNow has attracted many of these self-directed, sophisticated investors who are comfortable in creating their own portfolios,” Tongue says.

"We’re looking forward to engaging with this increasingly important sector of the New Zealand investment market.”

For more on the InvestNow KiwiSaver Scheme watch Good Returns TV.