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Default KiwiSaver provider hits the 500,000 mark averaging 4,500 new members a month for the past year.
Default provider ANZ announced today that its membership has grown to more than 500,000 having added an average of 4,500 new members per month for the past year.
The escalating enrolment means that ANZ, which operates schemes under the National Bank and OnePath brands, has almost one quarter of the KiwiSaver market, by volume, which now tops two million. Between the various schemes it runs, ANZ around NZ$3.4 billion in assets under management, according to Morningstar's KiwiSaver performance survey ending September 2012.
ANZ’s was named Fund Manager of the Year for 2012 by both FundSource and research house Morningstar, a distinction also achieved in 2010. ANZ’s KiwiSaver Scheme was also a winner of the Workplace Savings Communications Awards 2012 for excellence in annual reporting.*
John Body, ANZ's managing director of wealth and private banking, said ANZ was "pleased to receive this award for our clear, concise and effective reporting.” For a complete list of Workplace Savings Communication Award winners click here.
*Specifies category award for Workplace Savings Communications Awards 2012.