Sharesies KiwiSaver to offer self-select for US shares
From December, Sharesies KiwiSaver members will be able to choose to invest in more than 50 individual US stocks, including Meta and Apple.
Guardrails will still apply, including a 5% limit when investing in a single stock, and at least 50% of an investor’s portfolio must be in base funds. KiwiSaver members will pay tax at their prescribed investor rate (PIR) for investing in the US options.
Sharesies says its KiwiSaver, which launched in beta December 2022, now has $230 million in funds under management and more than 8000 members.
In November last year, the online investment platform began offering members the ability to self-select from five New Zealand-managed base funds (increasing to six this year), and 90-plus NZX stocks. In September, it began allowing members to combine multiple base funds, provided they totaled at least 50% of their investment plan.
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