ASB CEO Pushes for KiwiSaver Reforms and Explores New Investment Opportunities

ASB CEO Vittoria Shortt advocates for making KiwiSaver compulsory and adjusting contribution rates, citing the success of similar policies in Australia. She emphasizes the importance of simplifying KiwiSaver for everyday New Zealanders, particularly younger generations who may prioritize immediate financial goals over retirement savings. This year, ASB KiwiSaver members contributed $1.7 billion, and the fund grew by $1.5 billion, thanks in part to a strong partnership with BlackRock. While ASB has not yet ventured into private equity investments within KiwiSaver, Shortt expresses interest in exploring this avenue, inspired by the strategies employed by Australia's super funds. ASB remains competitive in the KiwiSaver market, closely trailing Fisher Funds in terms of market share and fee revenue.

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