The bank's digital tools have also been upgraded
ASB has launched two new aggressive funds, designed to deliver the highest long-term investment returns among all its funds, with the largest up and down value movements.
The launch of these funds responds to increased customer demand for more aggressive investment options, with more than $8.9 billion invested in this category across the entire KiwiSaver market, marking a year-on-year increase of more than 25%, according to Adam Boyd (pictured above), EGM of personal banking at ASB.
The ASB KiwiSaver Scheme Aggressive Fund and ASB Investment Funds Aggressive Fund will each allocate approximately 95% of their investments to growth assets, which was the highest proportion among all the bank’s funds.
“While we offer a range of different funds that can suit different investment timeframes and goals, our new aggressive funds could be suitable for those customers with a long investment timeframe who are comfortable accepting more risk with larger ups and downs in their balance along the way. Over the long term the objective of the funds is to provide the highest returns of any ASB funds,” Boyd said.
Similar to ASB’s existing funds, the aggressive funds will benefit from the bank’s exclusive partnership with BlackRock, providing ASB’s investment customers with access to global expertise from the world’s largest investment management firm.
Accessible ASB tools and advice
Boyd encouraged potential investors to explore ASB’s free KiwiSaver advice, accessible in-branch or through the contact center using the staff-guided KiwiSaver tool.
“If you are with ASB, you can access advice through our digital ASB KiwiSaver advice tool on your mobile app or via ASB FastNet Classic, where you can get a fund recommendation within minutes,” he said. “Our team of qualified Wealth Managers also provides tailored investment advice and expertise to help customers understand and achieve their personalised goals.”
ASB said it also upgraded its digital tools, including a KiwiSaver calculator, to aid customers in planning for goals like buying a home or saving for retirement with an interactive future balance feature. This enhancement provides a clearer understanding of how their KiwiSaver investment aligns with future financial objectives.
As of Sept. 30, ASB had more than 500,000 customers, with approximately $20 billion invested in its managed funds, including about $15bn in the ASB KiwiSaver Scheme. Over the past year, ASB offered KiwiSaver advice to 80,000.
Find the ASB media release here. Read more about the investment funds here.
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