Booster KiwiSaver passable, Morningstar says
The balanced fund, balanced growth, conservative fund, high-growth fund and default saver fund have all been given a neutral rating in the latest update. They were previously rated negative.
Morningstar hands out gold, silver, bronze, neutral and negative ratings based on analyst research.
Analyst Elliot Lucas said Booster was an “acceptable option” in the KiwiSaver space.
“Firm founder Allen Yeo and CIO David Beattie launched this KiwiSaver strategy in 2007 with a very conservative approach, focused relentlessly on downside protection. This approach paid off very well in the 2008 financial crisis but subsequently proved a drag. After years of underperformance and after the firm’s acquisition of Fidelity Life KiwiSaver substantially expanded the number of advisers using the scheme, Booster implemented a big process change in late 2013. It moved the strategy’s asset allocation in line with the relevant peer group average and imposed tight risk budgets,” he said.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
