NZ Funds’ KiwiSaver hitches ride with Lyft

Michael Lang

NZ Funds is thrilled to announce that investors in our KiwiSaver Scheme ¹, Superannuation Scheme and certain Managed Portfolio Service growth orientated portfolios received an allocation to Lyft at the issue price. 

NZ Funds believes that over the next ten years car ownership and transport will undergo a structural change because of transportation-as-a-service and that this may leave Uber, Didi and Lyft as three of the most valuable companies on the planet.

“If we told our clients twenty years ago that newspaper and television stations would become almost worthless, there would be a digital form of the yellow pages (Google) and that the company that enables people to trade photos of their grandchildren would be one of the most valuable in the world (Facebook), no one would have believed you” says Michael Lang, NZ Funds’ CEO.

“We think transport-as-a-service is a similar idea. Lyft started as a way for college students to share rides, while Uber was designed to enable people to rent an expensive “black car” and driver for a night. But the idea has now gone well beyond that. Last year in New Zealand alone, Uber completed 83 million transport kilometers, equivalent to travelling to the moon and back 108 times.”