What are the fees for the Fisher Funds KiwiSaver Plan?
Fisher Funds charges a fee to manage your investment in the Fisher Funds KiwiSaver Plan.
The table below details all fees for the Plan. The other management and administration charges are a reasonable estimate of future costs and expenses that are likely to be charged in the future based on a combination of forecast expenses and historic estimated expenses charged to the funds and the underlying funds which the Plan invests into.
Investment Option | Fixed Manager's basic fee* | Estimated Other management and administration charges | Total estimated annual fund charges (% of net asset value) |
|---|---|---|---|
Fund | |||
Cash | 0.36% | 0.08% | 0.44% |
CashPlus (Closed to new investors) | 0.59% | 0.08% | 0.67% |
Default Conservative | 0.42% | 0.08% | 0.50% |
Conservative | 0.76% | 0.12% | 0.88% |
Default** | 0.37% | N/A | 0.37% |
Balanced*** | 0.91% | 0.20% | 1.11% |
Growth*** | 0.98% | 0.23% | 1.21% |
Aggressive*** | 1.06% | 0.18% | 1.24% |
GlidePath | |||
Age 25**** | 1.06%* | 0.18% | 1.24% |
Age 40**** | 1.01%* | 0.21% | 1.22% |
Age 55**** | 0.92%* | 0.21% | 1.13% |
Age 65**** | 0.79%* | 0.13% | 0.92% |
Age 75**** | 0.73%* | 0.11% | 0.84% |
- *
The Manager's basic fee for the GlidePath options is an estimate based on the annual fund charges for the Plan fund(s) as at the stated age. The actual Manager's basic fee will vary based on the performance of the Plan fund(s) and the proportion invested in each between GlidePath ages.
- **
The Manager's basic fee and annual fund charge figures for the Default Fund are maximums. You may pay less, but never more, than what is shown for Default Fund investments. If your Default Fund balance is $1,500 or less, there is no annual fund charge on your Default Fund investment.
- ***
In addition to the annual fund charges, this fund may gain exposure to private equity through investments managed by parties related to Fisher Funds and which provide for a share of profit (known as carried interest) to be paid to a related Fisher Funds entity. Any carried interest is included within the valuations of the fund’s underlying investments at a frequency consistent with the valuation cycle of those investments. Carried interest is paid as the private equity investments are realised, subject to payment criteria being met. For more information see the Other Material Information document.
- ****
The GlidePath options shown above are a representation of the GlidePath life cycle. There is no extra charge for GlidePath.
Description of the above fees
Total estimated annual fund charges are made up of:
The Manager's basic fee charged directly to the funds by Fisher Funds for providing services, including investment management services
Other management and administration charges incurred by the funds for services such as registry, accounting, custody, unit pricing, and audit, the Supervisor’s fee and any underlying fund management fees and expenses.
The annual fund charges are paid from the funds, or the underlying funds they may invest in.
The Manager's basic fee is disclosed on a before-tax basis. GST may be added to fees and may be included in some other management and administration charges, where applicable.
Buy and sell spreads
Although under normal trading and market conditions Fisher Funds doesn’t apply buy and sell spreads, Fisher Funds may choose to do so - for example, during periods of exceptionally high transaction volumes.
You can find out if any buy or sell spreads have been applied here.
Tax
We provide the following information on how tax is calculated by the Fisher Funds KiwiSaver Plan as a general guide only and neither we nor the Supervisor for the Fisher Funds KiwiSaver Plan accept any responsibility for your taxation liabilities. Please seek independent tax advice before investing.
PIE tax treatment and timing
The Fisher Funds KiwiSaver Plan is a multi-rate Portfolio Investment Entity (PIE) for tax purposes. This means that any taxable income of the Fisher Funds KiwiSaver Plan will be taxed at your Prescribed Investor Rate (PIR).
We’ll calculate the tax on your share of taxable income based on the PIR that you provide. Your PIE tax payable to Inland Revenue will be funded by cancelling a portion of your units. We’ll issue additional units to reflect the amount of any tax rebate owed to you, this may not occur until the rebate is received from Inland Revenue. PIE tax payable is withheld as at 31 March or on any full or partial withdrawals, including switches between funds.
If your balance is equal to or less than the tax that is payable on income earned since the start of the tax year, we will cancel any remaining units and pay the tax liability to Inland Revenue. If your balance is less than the tax liability, then you, at our discretion, indemnify us (and where applicable, the Supervisor of the Fisher Funds KiwiSaver Plan) in respect of any tax payable.
PIRs and individual members
Individuals who are New Zealand tax residents determine their PIR based on their taxable income and their total income, including PIE income in the previous two income years. To work out your PIR, call us on 0508 347 437, or use Inland Revenue’s 'Find my prescribed investor rate' calculator.
