One in five choose Westpac KiwiSaver

November 5 2007

One in five choose Westpac KiwiSaver

One in every five people who has actively chosen a KiwiSaver scheme has selected the Westpac KiwiSaver scheme.

Roger Clayton, senior product manager for BT Funds Management, which is the developer and manager of the Westpac KiwiSaver scheme, says that attracting one in five people who are actively selecting their KiwiSaver scheme is encouraging considering there are around 45 schemes to choose from. “In just over four months over 30,000 investors have chosen Westpac KiwiSaver and this number is growing daily,” he said.

Mr. Clayton said the Westpac KiwiSaver scheme keeps it simple for investors and offers an easy choice of five investment funds including an innovative capital protection plan. Westpac’s KiwiSaver-trained staff and extensive branch network enables people to understand KiwiSaver and directly obtain information face to face. Westpac has also integrated KiwiSaver with its existing internet online banking.

BT’s core business is investment management. It manages and administers around $2.2 billion of funds under management. BT provides a wide range of investment options, including funds managed by its own teams as well as alliances with global investment managers. Westpac Banking Corporation purchased BT in 2002.

Note: See www.westpac.co.nz/kiwisaver for an investment statement and further information.

ENDS

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