Kiwisaver statistics are all here.
At June 2022, 7.3% are under 18, 6.7% are over 65.
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Kiwisaver statistics are all here.
At June 2022, 7.3% are under 18, 6.7% are over 65.
did some numbers
i have a fund like baa baa all i do is put in 100/mth and get the govt contribution. i have yrs to go to retirement but i prefer to invest my own money rather than rely on fund managers
anyway i dont think there scheme works how it is currently set and communicated on there website as they state contributions will automatically be invested according to the plan you setup
i set up my fund as per there example ( by the way there fund used in the example is 1.47% fund fee/annum they dont mention this)
Sam has a KiwiSaver balance of $10,000. They choose to invest $7,000 in a base fund, and $3,000 across their own picks.
In the first year, their estimated fees are:
Fee Fee amount Transaction fees on Sam’s picks $30 Admin fee on Sam’s picks $4.50 Admin fee on base funds $0 Annual fund charge (included in unit price) $102.90 Total fees $137.40 Amount deducted from KiwiSaver account balance $34.50
So the 3000 is divided into 10 stocks as per there rules of no more than 5% per stock
my picks ( example only and prices just of top my head )
picks price shares cost gne 2.73 110 $ 300.00 cnu 8.7 34 $ 300.00 hgh 1.55 194 $ 300.00 ift 9.28 32 $ 300.00 mel 5.4 56 $ 300.00 skc 2.25 133 $ 300.00 spk 5.1 59 $ 300.00 thl 3.85 78 $ 300.00 fbu 4.6 65 $ 300.00 ebo 44.5 7 $ 300.00 $ 3,000.00 brokerage $ 30.00 admin fee $ 4.50
so after initial setup of fund my mthly contribution is $100 therefore $50 will go to the fund and $50 will be allocation between each of my stock picks so thats $5 per stock lol
my point is $5 is not even going to buy 1 share in ebos ? so how will the allocation work automatically :scared: ( computer error )
i need to ask this question before i carry on my analysis of if its any good for a trader
anyway based on there example and my $100 per mth contribution it looks like total fee's would be roughly 1.52% per annum if invested in a growth fund + your stock picks + contribution fee's so not exactly cheap ? if i have calculated right
anyway more investigating to do
If I have $1 and the govt gives me 50 c then I have made 50% return that year.
Year 1 - I now have $1.50 invested.
Year 2 - add $1 so have $2.50 invested. The govt gives me another 50c - 50c over $2.50 is 20% return. Total invested is $3
Year 3 - add $1 so $4 invested. The govt gives me 50c - 50c over $4 is 12.5% return. Total invested now $4.50
Year 3 - add $1 so $5.50 invested. Govt gives 50c - 50c over $5.50 is 9%. Total now invested now $6
And it goes on - the return lowering every year until it is not worth it.
Remember you money has to stay there - you can't just take it out when you want.
Yes but that’s not what Baa Baa is saying. He is referring only to his yearly $1 deposit. Every year that he deposits $1 the govt gives him 50c. So yes, he makes a 50% return on that dollar. Every year. That is all he is saying. Nothing to do with his overall fund balance or the return on that over time.
Dobby does make a very good point though that your money has to stay there.. it is tied up till you are 65. If you are a young person (the first home thing aside) this could be quite an impediment to joining Kiwisaver as the government top up soon becomes immaterial.
That said, all I add to my Kiwisaver annually is a lump sum of $1048 to take advantage of the free $524. No other contributions will go there. Ever.
O yes totally, young people should not be in a cash fund. I thought initially Kiwisaver was very short sighted that everyone regardless of age went into I think either conservative or balanced fund. They really mucked that up to begin with. It should have been on a graduated scale. Something like 18-40 growth, 40-55 balanced and 56+ conservative.
But hey they are slowly changing things for the better.
got some more info from sharsies on instagram last night
so in my example i was saying it didnt work on auto allocation of contributions each mth to your stock picks if the value of contribution was less than the stock price ... solved your get a fraction of a share as your allocation to that stock pick
also its 5% of the 100% of your fund not 5% of your 50% when making stock picks
i still have to get a answer on my fee questions in regards to when they are taken as that can make a big difference in the long run to your fund size and also on what happens if i get a few baggers in my stock picks ( reason because if they have rules like some funds where your weightings in your picks become skewed because of my good stock picking i dont want to be penalised for being good at it because of some dumb rules around weightings. this would be a huge negative for taking this kiwisaver scheme on )
they are also looking to add more funds which is good more choice the better and also enable asx and us stocks at some stage to be added to your mix
anyway i ran a model on a made up fund with stock picks and using a smartshare growth fund which ahd a fee of .51% when you added on all the other fee's it was was a total roughly of .81% which included fee's on my gains as well thru the yr so getting better ... more investigating to do
Small caveat on that though.
Don't the funds like Smartshares also get charged brokerage on their entry and exit points when they buy and sell stocks. That is not part of their MER. So I think we can give sharesies a bit of leeway here. The brokerage to get into the stocks should be taken into account from an individual level, but not used to measure the fund fees as a comparator.
'There have been more than a few scary headlines lately, but in my view those scary headlines are bestignored at a time when in my opinion there are a great many very cheap stocks available in the hiddencorners of the market where I spend my time. To illustrate, at present the ratio of the R2000 to the SP500is at approximately the same level as it was in March of 2020 as Covid was sweeping the world. Prior tothat time, it had not been that low since February of 2001'.
Everything is screaming cheap bar the few big caps that drive the indexes and confuse you.
My earlier explanatory post went right over your head.
When do you propose you'll get a better shot at world class value stocks than right now...
Thank you for the guidance. I prefer strong balance sheets and low debt companies. I also like to avoid glamour stocks. In other words today’s popular hot stocks. I am reading some books and getting some great ideas these days. As you said there could be hidden gems.
SailorRob wrote: "There have been more than a few scary headlines lately, but in my view those scary headlines are bestignored at a time when in my opinion there are a great many very cheap stocks available in the hiddencorners of the market where I spend my time. To illustrate, at present the ratio of the R2000 to the SP500is at approximately the same level as it was in March of 2020 as Covid was sweeping the world. Prior tothat time, it had not been that low since February of 2001'.
Everything is screaming cheap bar the few big caps that drive the indexes and confuse you.
My earlier explanatory post went right over your head.
When do you propose you'll get a better shot at world class value stocks than right now."
Alluvial Q1
'Small company shares remain out-of-favor compared to those of large companies. Despite thisquarter’s gain, the gulf between our securities’ trading prices and their intrinsic values is as largeas I have ever observed. Fourth quarter 2022 earnings were very good overall, but the market’sreaction to even the best news was muted. In response, I made some moves in our portfolio thisquarter, selling out of one holding and adding a few others'.
Crazy. Buying some shares for the kids this morning. Place a limit buy @ 2.50 pre open and it places the bid halfway down the queue at $2.36??
I wonder if the bid was 2.36 when you placed your limit order. Sharesies, in there wisdom, gave you the "best" price @ 2.36. Subsequently the bid moved higher and your order stayed where it was at 2.36
The match price at the time was $2.50... The high bid was something like $2.65
No harm done as the open ended up higher in the end anyway so out of the running... but it basically means you can't place a bid at you're limit pre open and take advantage of a match price
I opend my bank account with shareisis yesterday through my wallet yesterday. Looking forward to their kiwi saver. Hope they will come up with some good options.
Can anyone tell me - is Contact Energy still the only company they have enabled DRP for? There is no option to filter on DRP so the only way to find out if there are any other companies supported, is to manually troll through them. I was told KFL, BRM and MLN were on the list of initial companies, but DRP is still not available on any of them.
Beyond ridiculous now.
EDIT:
I messaged Sharesies to ask them. They have just replied, saying they "have no timeline" for introducing DRP for more companies. I have zero confidence in them. They have completely lost the plot.
TRA have now announced their DRP. You (if you hold) can only hope. :)
http://nzx-prod-s7fsd7f98s.s3-websit...311/395629.pdf
It is beyond a joke now. I no longer have any confidence in Sharesies to meet the needs of customers. They have well and truly lost their way.
I guess there is a slim chance they may enable DRP for TRA, but given they told me "No timeline" on adding more companies, I wouldn't hold my breath.
Reply I got from them on March 10...
"Thanks for reaching out 👍
CEN is the first company we are offering DRP for. We will be offering more investments as we go so keep an eye out for updates on this 🍍"
With your correspondence update, guess I can stop keeping an eye out JAK 🙄
For anyone skeptical about Sharsies behavior, please see my recent post on the Greenfern thread.
Today's message:
"Kia ora Carren!
I can confirm that Contact Energy is the only company that currently has DRP available."
From this, and the previous "we have no time-line" message, it would seem they have zero interest in extending the DRP feature, to any further companies. What kind of IT/design department implements a feature, trials it on one company, without any road map for a full roll-out? Rhetorical question obviously.
I can only hope that when Hatch and Jarden Direct join forces in August (I think) that they make a decision to support the NZX, and do so for an affordable fee.
Highly user friendly and attractive branding, but lagging behind on fees when compared to some other platforms
Does anyone use the Sharesies app either for their own investing or for kids accounts?
Over the past week, I have suddenly began to experience major issues - where my grandkids accounts are randomly displaying some or all of my portfolio, either alongside or instead of, their own. I have reported this several times over the past few days, and Sharesies have sent to their IT department to follow up. Tonight, I placed orders for my grandkids (for KFL) then received confirmation emails for each, confirming their orders have been placed - for OCA!
This seems to be an app issue - I do not experience any of these issues when accessing via my browser/the website.
Just curious to know if anyone else has experienced this.
Pretty rare I need to go to "force stop" in apps to clear glitches but do this regulary with Sharesies on the phone (Android).
They may get their app together around the same time they offer DRP's 😉
Yep, I don't think I'm going to see DRP for all companies, in my life time now - pretty sad given I'm only 62 ;)
But seriously, these issues are really making me question what is going on with their IT/development teams. I'm waiting for the day when I log in now, and find either my own, or my grandkids portfolios have completely disappeared. Clearly managing kids account data from within our own accounts, is not ideal. The "switch account" feature is clearly broken. Starting to think I need to take screenshots of all contract notes, so I actually have concrete proof of all transactions made, in the event that everything vanishes overnight. Definitely highlights a big disadvantage of not having holdings registered to a CSN.
Fully expecting the usual "our IT department have looked into this but were unable to replicate the issues" response.
Having had occasion to rebuild a transaction database from database journals, yes it’s possible, but it’s a bl**dy complicated, time-consuming process, involving working backwards up the program call stack.
So unless it’s a grotesquely major issue, the usual route was either people doing manual correcting transactions or running database update scripts to “make things right”.
My confidence level in their ability to fix this, is zero. I sent them screenshots to proof the issues I reported, so at least they will see they are valid. I think part of the problem is they have an obsession with constantly tweaking the platform, when it is not necessary. If it ain't broken don't muck around trying to fix it.
To be fair - it is only the app I am experiencing issues with. If I access my/my grandkids accounts via my browser everything works fine, as it should. But for me, the app was (until now) a very useful tool, especially if I was out and about and wanted to place or check an order, so the issues I am experiencing are frustrating.
You will see from my previous posts, that I am very disappointed with several aspects of Sharesies currently - having initially been an avid and public supporter. But it does still have its place. I use it for only three of my smallest holdings now - because there is no affordable alternative for NZX. I am happy to continue using for my grandkids as I am only investing small amounts currently.
Whether Sharesies will meet your needs or not depends on your personal situation - so please don't base your decision on my comments alone.
I used Sharesies for my kids until the changes in fees etc a while back. I immediately closed them and moved them to Kernel buying Global100 which I’m very pleased I did. I’m similar to JAK in that I only have 3 holdings now, all overseas but hitting the problem of not being able to participate in capital raises etc. so will likely keep building then sell and move across to eg Jarden/Hatch depending on what they end up offering.
Yes, I’m holding out to hear what the Jarden/Hatch merge is going to look like. Hatch have told me they fully intend to add support for NZX, but were not able to give me a time line on it. Unfortunately, I have a gut feeling that once the merge goes ahead, the fees will be more likely to be aligned to Jarden’s, rather than Hatch’s current fees. If that ends up being the case, they won’t be an affordable option for me, so I’ll be stuck with Sharesies until something better comes along.
Update on DRP - I messaged Sharesies again re when DRP will be available to all companies that offer it.
We hope to have more information to share about this shortly, though again I can't provide a concrete timeframe as I do not wish to overpromise here.
In introducing DRP for CEN earlier this year we have been able to gain experience in our processing of the feature on Sharesies and have learnt a lot about how to successfully implement DRP. It is a complex feature to implement widely, particularly given our custodial structure. For this reason, we need to take the time to ensure that we can successfully support this.
So nah, I'll believe it when I see it.
This was the reply I received on 23rd June ---
Thanks for your message! Currently we do only have DRP for Contact Energy (CEN). We hope to add others in time, but don't have a confirmed timeframe around this just yet. We'll let you know if more are added
Thanks,
Still waiting..........
This may be of interest to some.
Headline only unfortunately. Was in this mornings printed paper.
https://www.nzherald.co.nz/business/...OC55JUAWITUMM/
Here’s the full article courtesy of RNZ
https://www.rnz.co.nz/news/business/...nancial-advice
Interesting, but there is no mention of fees for Buying and Selling, assuming one can actually do that via the app. The fee mentioned above is a “management” fee not a transaction fee.
There is also no mention of shares as such, it talks about funds.
So I imagine it is the usual dire options of [off market] investment products that perform poorly except for the management fee collector.
Sharesies is the best platform for investing in ASX listed stocks. They handle all the dividend, tax, paperwork etc
Their processing times are ridiculous. I set up an auto order yesterday, to be placed today. It has been showing as "pending" for almost 40 minutes. Not even gone to market yet. Why are auto orders not placed the same way general orders are? These guys need to get their act together.
if you want a real platform for asx shares go interactive brokers
Probably like plenty of notice of what your intentions are. Heaven forbid, don't anyone mention front running.
JAK - you get a compromise - auto pilot for the masses
Auto-invest your dividends
August 2023
Invest your dividends back into a company or fund—automatically! On the Sharesies platform, go to Account > Portfolio > Manage dividends > Auto-invest dividends to turn it on.
Yeah I saw that, but not even close to being DRP, which some inexperienced investors might not realise. This is nothing more than another set and forget feature for those who can’t be bothered doing it themselves. Precisely what bugs me about Sharesies. They keep introducing “fluff” features like this one while refusing to implement features like DRP.
They have completely lost their way. No longer the Sharesies they once were.
Sharesies came second for those interested:
ASB Securities Awarded Canstar Most Satisfied Customers For Online Share Trading
https://www.scoop.co.nz/stories/BU23...re-trading.htm
Sharesies is more and more a pile of crap I fear. I logged in half an hour ago and nearly fainted because it said my portfolio was empty. Reinstalled the app, no dice. Tried on a web browser on my PC, same issue. Fired off an angry email to their helpdesk and on FB messenger. Came back just now and my portfolio is back. I wonder if they were doing some DB maintenance overnight but didn't bother to tell anyone like the banks do? What a joke.
I'll send you screenshots next time from the ASB app. Rabobank and ANZ (at least on my credit card balance after midnight on certain weekends when they do processing) have similar things.And in any case, Sharesies got back to me. They claim it was an "overnight display issue" which is a pretty weird and vague statement.
The major banks are quite good at notifying upcoming maintenance. This from the Westpac login page late Saturday morning:
"NOTICE: Inter-Bank Payment Delays"
Due to Reserve Bank maintenance on Saturday, 9 September, inter-bank payments expected between 4:00am and 12:00pm will be delayed until the early afternoon. Please allow extra time for your transactions to process and avoid making duplicate payments.
Card, EFTPOS, and ATM services will be unaffected.
Need help? Get in touch with our Helpdesk"
.
A step granddaughter has a Sharesies Account as an add on to her grandmother's account. She has a small holding in ERD, but of course it is in the name of the custodian. Does anyone know how the current (renounceable?) rights issue will work in that circumstance?
Sharesies now offering DRP on GNE Justakiwi 😊
I cannot believe how slowly they are introducing DRP to the site.
Me neither. It’s embarrassing - not that they see it that way, but it makes them look really amateur when they introduce a new feature that is not fully implemented. If you can’t do it properly from day one, why even bother?
I only have one small holding left with them. Will eventually transfer that one out too. Hugely disappointed in them. I think they have lost their way.
No, the banks don't, but I have had that happen to me with other financial services companies' portfolio management and custody platforms and systems.
In some cases, the balances are zero and all the holdings vanished. They come back at the end of the maintenance window, but it's bl**dy disconcerting the first (and second) times it happens.
Simply several strands of inadequate management coming together to p*ss the customer off. Sadly, the norm. . .
Sharesies report the top ten buys for the week like Jarden do.
Bit disappointing the list... was hoping to see the cannabis companies and MFB.
1) Smartshares US500 ETF
2) Smartshares NZ Top 50 ETF
3) Smartshares Australian Top 20 ETF
4) Smartshares Europe ETF
5) Smartshares Asia Pacifc ETF
6) Pathfinder Global Responsibility Fund
7) Smartshares Emerging Markets ETF
8) Pathfinder Global Water Fund
9) Mercer Ethical Leaders NZ Shares Fund
10) Pathfinder Global Property Fund
Sharesies investors believe in dollar cost averaging and time in the market. I see it posted a lot on the facebook investing groups.
All that's needed is a new Fund to invest in all these funds & weird & wonderful ETF's then no-one will need to bother with bits of the smaller pies :)
Come to think of it - NZX probably has a few spaces where the departed & to depart listings once stood.
Would want them to increase their fees too much again to compensate for the increasing gaps
https://www.interest.co.nz/investing...million-traded
Retail investment platform Sharesies says it recorded its biggest trading month ever in March 2024, with almost half a billion dollars traded over the platform, according to its latest quarterly index.
The investment platform credits the surge to a rally in tech stocks in the United States alongside a significant influx of new investors into the share market, and a notable increase in activity from previously cautious investors.
Sharesies reached a total trade volume of $488 million over the month of March as well as its biggest individual trading day on record on March 5th, with $35.7 million traded.
....
Across the whole month of March, trading volumes in the US constituted 75% of the total, while NZX and ASX trading accounted for 17% and 9% respectively.
...
Sharesies boasts the largest retail investor base in New Zealand and manages over $3 billion in funds.
It has over 620,000 users across New Zealand and Australia and invests in over 8,000 companies and funds which span five exchanges in the US, Australia, and New Zealand, without any minimum investment requirement.
How does $488m 1 month trade volume stack up compared to Jarden Director or ASB does anyone know?
no wonder I got a recent survey from ASB lol. must be losing customers eh Rawz. ASB pretty good on most things, but continues fleecing punters with high brokerage fees, no app/phone display, & they make buying 'overseas' stocks cumbersome. Plus no real system improvements for..... geez..... as long as I can remember....
The best thing about sharesies is no paperwork. Rights offers and cap raises all handled by clicking a button on the app. Buying ASX shares costs $15 a trade. No need to remember ASX codes/pins/SRN numbers etc. No need for an aussie bank account or banking cheques.
Jarden is good for NZX. I use both and rate both highly
One Australian brokerage lets you buy orders under $1000 for no fee.
Sharesies going to take over trading of Fonterra shares....
https://www.farmersweekly.co.nz/mark...3pqJF0q4FBwLPE
Yes but these are the farm owners shares.
"Fonterra Co-operative Group shares can only be held by current or former supplying farmers, sharemilkers, contract milkers or farm lessors. Former suppliers can also transfer Fonterra shares to their relatives or related parties. "
You have to own a farm to be able to trade them.
SNOOPY
I see sharesies have joined every other online company on the planet and are now offering car insurance on the side as a hustle.
Doesn't seem a particular good fit with their other services but what the heck, why not I guess ?!?!
https://app.sharesies.com/profile/pe...sure/car/intro
Underwritten by Cove insurance which is kiwi based Co underwritten by the following.
This insurance is issued by Cove Limited in accordance with the authorisation granted to it by the underwriter, Aioi Nissay Dowa Insurance Company Limited.
Aioi Nissay Dowa are one of the largest insurance companies in the world and closer to home they underwrite some of the biggest and most loved car manufacturing brands in New Zealand, so they have plenty of experience with Kiwis and their cars and we’re excited that they are underwriting Cove’s policies too.
This insurance is issued by Cove Limited in accordance with the authorisation granted to it by the underwriter, Aioi Nissay Dowa Insurance Company Limited.
Aioi Nissay Dowa are one of the largest insurance companies in the world and closer to home they underwrite some of the biggest and most loved car manufacturing brands in New Zealand, so they have plenty of experience with Kiwis and their cars and we’re excited that they are underwriting Cove’s policies too.
Wonder what their trading Stats are looking like now, with NZX SP's spinning lower & lower into Winter gloom ? ;)
Perhaps we might see Sharesies UL soon or an open up to Corporate Sharesies accounts soon to fill a gap ? ;)
That might skrew a few further main street fat cat brokerages with 'dining on cream' past existence habits very nicely ;)
NZX might even learn a lesson out of it as well .. probably not overdue & as a follow on from the progressive listings regression patterns .. must be a limit on the fancy NZX Funds that can be added & used as listing stuffing scross the board to try to gloss over reality ;)
From what I hear, the majority of sharesies traders are trading the US market. So they will be clipping the ticket on that.
My comments were mainly aimed at the euphoric growth during the covid years which has dimmed now which will be giving them cause for concern. You still have to keep paying the peeps. (Or lay them off)
Sharesies sent me an e-mail yesterday asking me if I wished to have my car insured with them. I thought I would at least get a quote to see what they came up with but the technology broke down in the process. I tried it twice and then gave up.
If they can't even organise taking your money, imagine the chances of a satisfactory claim resolution ...
What ya mean - think they can .. at least three days before due in & 3 days after it's due out ;)
it's like taking two bites out of the cake & still claiming having a whole cake ;)
Please be kind and make sure you partake in some sharing .. there might be the odd brokerage or two
around getting frozen out & seeing conditions more barren than the ice shelf down the Antarctic after a fierce storm has blown through from the pole :)
Checked vs our current policy (Initio), more expensive from sharesies by about $10 a week and agreed value about $20k less.
Nope!