FMA releases KiwiSaver performance fees guidance notes

The Financial Markets Authority (FMA) has today released a final version of its guidance note on KiwiSaver performance fees.

The guidance sets out the criteria against which FMA will assess the reasonableness of performance fees, which are fees charged to an investor when an investment manager outperforms an appropriate benchmark.

FMA Head of Compliance Monitoring, Elaine Campbell said, "While only two KiwiSaver providers currently charge performance fees, it was important to clarify how FMA would assess performance fees and the elements that should apply in any such fee arrangement." ... READ MORE

Released by the Financial Markets Authority - 25 May 2012