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Brash welcomes chance to reassure Government Actuary
19/04/2010

BRASH WELCOMES CHANCE TO REASSURE GOVERNMENT ACTUARY

19/04/2010

The new managing director of Huljich Wealth Management, Dr Don Brash, said today that he welcomed the chance to reassure the Government Actuary that the Huljich KiwiSaver Scheme is being responsibly managed.

"There is nothing in the law requiring KiwiSaver schemes to have a Statement of Investment Policy and Objectives but we have been working to prepare one over the last several weeks," Dr Brash said today.  "I have no doubt that it will be in place before the end of the month.  We have every intention of being a leader in the KiwiSaver industry in terms of transparency.

"We have also established a new Investment Committee, with new members and an external consultant experienced in New Zealand and Australian equity markets.

"I have every confidence that I will be able to satisfy the Government Actuary that our Scheme is carefully and responsibly managed.  Over the 12 months to the end of March 2010, our Growth and Balanced KiwiSaver Schemes both achieved a return of 13.5%, while our Conservative Fund achieved a return of 11.9%."

Dr Brash said that Huljich has no difficulty in meeting all of the requirements sought by the Government Actuary.

ENDS

Issued 19 April 2010 by Huljich Wealth Management (New Zealand) Limited.

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