Smartshares passes $3b

It has added $1b in retail funds in just over two years.

Chief executive Hugh Stevenssaid: “Smartshares is committed to developing New Zealand’s passive funds management market, and creating cost-effective investment solutions which suit a broad range of customers’ needs, including retail, corporate and institutional investors.

“Reaching $3b in funds under management is a testament to the quality and range of our investment options, and this rapid growth demonstrates the potential of this business.”

There are more than 80,000 New Zealanders invested in Smartshares’ products, either directly, via its SuperLife business, or through financial advisers and investment platforms Sharesies and InvestNow.