Another KiwiSaver scheme cuts fees

Trish Oakley, head of Summer, said that fee levels were reviewed regularly. “We make a commitment to our members that alongside our focus on delivering performance, we consistently look for ways in which we can deliver value to our members."

Martin Hawes, head of the investment committee for Summer, said investors should look at their investment regularly.

“We have seen some interesting dynamics in the market over recent months, and now might be a good time for some KiwiSaver investors to be reassessing their fund choice and mix of assets.”

Summer has also hired Jason Lindsay, a former ACC Australasian infrastructure portfolio manager to manage the Summer New Zealand equities, Summer Australia equities and Summer listed property funds.