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KiwiSaver funds: Can they be replicated cheaper?

Bart Frijns & Alireza Tourani‐Rad

JASSA: The Finsia Journal of Applied Finance2015article
ABDC B
Weight
0.36

Abstract

This study investigates the replicability of the recently introduced New Zealand retirement funds (KiwiSaver) by the same providers. Specifically, we replicate moderate/balanced funds based on a combination of conservative and growth/ aggressive funds. We observe that moderate/balanced funds are in many cases linear combinations of the conservative and growth funds with some serious mispricings between the fees of actual funds and reconstructed funds.

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Cite this paper

@article{bart2015,
  title        = {{KiwiSaver funds: Can they be replicated cheaper?}},
  author       = {Bart Frijns & Alireza Tourani‐Rad},
  journal      = {JASSA: The Finsia Journal of Applied Finance},
  year         = {2015},
}

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Evidence weight

0.36

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.27 × 0.4 = 0.11
M · momentum0.20 × 0.15 = 0.03
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.