Sunday, July 8. 2007
Kiwi Saver Literary Award
A couple of weeks ago, I complained about the lack of information around Kiwi Saver options going out to the average public. Well, the whole scheme has now started and although there is more information beginning to come out, but the complaint still stands…
Was reading the Sunday Star Times today. They had an article comparing the various Kiwi Saver funds and I can across the follow literary gem:
Without looking too closely at this multi clause eyesore, that I’m sure would give both Struck and White a hernia, lets look at the first and last clauses.
“Past performance is a better indicator of future performance” and “past performance is no indicator of future performance”.
Now I can assume what the author is trying to get at, but with ironic statements like that going out to the public around Kiwi Saver how can the average person make a sensible choice.
Was reading the Sunday Star Times today. They had an article comparing the various Kiwi Saver funds and I can across the follow literary gem:
Past performance is a better indicator of future performance, and stats are available from the likes of FundSource and Morningstar, and are available in the newspaper, but beware: past performance is no indicator of future performance.
Without looking too closely at this multi clause eyesore, that I’m sure would give both Struck and White a hernia, lets look at the first and last clauses.
“Past performance is a better indicator of future performance” and “past performance is no indicator of future performance”.
Now I can assume what the author is trying to get at, but with ironic statements like that going out to the public around Kiwi Saver how can the average person make a sensible choice.
Also in the paper was an article on NZX siding with Gareth Morgan’s rhetoric around the transparency of fees for Kiwi Saver.
Gareth Morgan has taken a hard line in the media on the lack of transparency in fee and trust set up of the major New Zealand fund providers. What has been published from him has in my option been a mix of good advice for the public and clever marketing for his investment company.
NZX wading in and siding with his comes across to me as “we’re transparent too, invest with us”, without really adding a lot to the debate.
One thing that can be said, whether Gareth Morgan is right or wrong, his profile has risen on the back of the debate.
Gareth Morgan has taken a hard line in the media on the lack of transparency in fee and trust set up of the major New Zealand fund providers. What has been published from him has in my option been a mix of good advice for the public and clever marketing for his investment company.
NZX wading in and siding with his comes across to me as “we’re transparent too, invest with us”, without really adding a lot to the debate.
One thing that can be said, whether Gareth Morgan is right or wrong, his profile has risen on the back of the debate.
Posted by Scott Walsh
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Date: 27/03/2006
