Stubbs vows to reduce fees after Simplicity hits the $4 billion mark
The Simplicity co-founder and managing director says reaching the $4 billion mark is a "pretty good result considering we started this around a kitchen table five years ago" and says members can look forward to a fee reduction in the near future.
The fund manager, which is owned by the Simplicity Charitable Trust, has also made more than $3 million worth of charitable donations to various causes around the country.
Stubbs is often vocal on the subject of KiwiSaver fees and recently hit out at the major players saying they "...are just greedy and still not passing on their enormous benefits of scale".
"Fees in New Zealand are very high by global standards, and managers no longer have the excuse of small scale," 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.
