Unit pricing

Q) Do KiwiSaver providers have to make unit price information publicly available? Recently it seems AMP has stopped providing daily unit price data, this makes tracking fund performance very difficult.

A) According to the  Financial Markets Authority, KiwiSaver providers are under no compulsion to make public daily unit prices. However, many providers will and do make that information available on a monthly basis. AMP is looking into my request for this information and I will advise when I get a response.

For what it's worth, our in house financial analyst Craig Simpson (also an authorised financial advisor) doesn't think tracking unit pricing on a daily basis is going to serve you all that well. That's because KiwiSaver is a long-term investment product and as such there will be little gain in monitoring daily movements of unit prices. Regardless, if you are determined to keep an eye on AMP's unit prices, here's how to do it:

Go to www.amp.co.nz, click on the investments tab, followed by investment returns, AMP KiwiSaver scheme and then go to the fund returns link.

On the subject of reporting requirements, I would note that the matter is currently under review by the Ministry of Economic Development. You can expect a change either this year or in 2013 on what and how providers' report on both fees and performance. Why? Because currently there is no consistency in how they go about this. The MED's new rules aim to rectify this glaring flaw in KiwiSaver.