Tech gives small investors access to big fund manager

NZ Herald, Tamsyn Parker, 06 March 2019

A global fund manager which until now has required individuals to have $2 million to deal directly with it is opening up its funds to retail investors through its new digital advice platform.

Nikko Asset Management which manages $5.5 billion mainly on behalf of community trusts, iwi and superannuation schemes, will now make its funds available investors with a minimum of $250 through its GoalsGetter tool.

George Carter, managing director of Nikko, said it had a never dealt directly with the public before, although it did launch a KiwiSaver fund last year whose members are mainly staff and family.

"Our entire business model has been about servicing institutional clients. As I came into the business it became clear we would like to offer what we do for institutions for individuals. Why should you have to have $5m to access Nikko?

The online tool allows people to select a savings goal for things like a holiday, house or retirement and work out how much they would need to save within a certain timeframe to get there.

Users can ask for an investment fund recommendation and the tool will recommend a fund from one of Nikko's range based on the goal and timeframe but they don't have to use those funds.

"The purpose for us is to help people make really good financial decisions," Carter said

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Nikko Asset Management New Zealand Limited (Company No. 606057, FSP22562) is the licensed Investment Manager of Nikko AM NZ Investment Scheme, Nikko AM NZ Wholesale Investment Scheme and the Nikko AM KiwiSaver Scheme. This material has been prepared without taking into account a potential investor’s objectives, financial situation or needs and is not intended to constitute personal financial advice, and must not be relied on as such. The Product Disclosure Statements are available on our website: https://www.nikkoam.co.nz./invest/retail.