Staples Rodway Launches Kiwisaver Scheme

MEDIA RELEASE
29 May 2007

Staples Rodway Launches Kiwisaver Scheme

Leading accounting firm Staples Rodway has launched a KiwiSaver scheme that will be available to both their clients and the wider public.

The Staples Rodway scheme includes Conservative, Balanced and Growth investment funds that are each independently managed. Members can choose any combination of these funds and will be provided with an investment attitudes questionnaire to help them with their choice.

Alternatively a member can simply choose an age group option which will see their KiwiSaver contributions invested in a combination of funds considered appropriate for their age group.

James Scarr, director of Staples Rodway Superannuation, said it is important for every New Zealander participating in KiwiSaver to ensure their contributions are being invested in a mix of growth and income assets appropriate for their age and risk profile.

“Due to their rigid investment policies the default KiwiSaver schemes may not be the best choice for every New Zealander. Staples Rodway is providing a range of funds that will offer Kiwis one or more funds to match to their risk profiles,” said Mr Scarr.

A key feature of the Staples Rodway KiwiSaver scheme is that each fund will have an independent investment manager, based on managerial quality and historic performance.

“We will be monitoring the performance of our independent fund managers and others in the market. Based on this evaluation we are prepared to change to a better performing manager if considered necessary.

“This provides us with a key point of difference to the many other schemes being provided by financial institutions that will only offer funds run by themselves. If those funds don't perform they're unlikely to sack themselves and put in a competitor's product.

“Investors in the Staples Rodway KiwiSaver scheme can take heart in the knowledge that their fund is being constantly monitored by an independent provider, with the objective of achieving consistently good performance over the long term,” added Mr Scarr.

ENDS

About Staples Rodway
Staples Rodway is New Zealand’s leading independent, full service accounting firm, with offices in Hamilton, Auckland, Tauranga, Christchurch, Taranaki and the Hawkes Bay. The clientele of the Hamilton office cover both rural and commercial sectors, in addition to the provision of accounting, financial information technology and management services for clients, there is a specialist tax team and a specialist business valuation and litigation support division.

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