ASB has today launched two new Aggressive Funds that aim to provide customers with the highest investment returns over the long term of all its funds, with the largest movements in value up and down. The funds have been launched in response to strong customer demand for more aggressive investment options.
Adam Boyd, Executive General Manager of Personal Banking, said: “There is proven demand for more aggressive investment options, with approximately $8.9billion invested in this category across the whole KiwiSaver market, up more than 25% year on year (according to the Morningstar KS report).”
The ASB KiwiSaver Scheme Aggressive Fund and ASB Investment Funds Aggressive Fund will each invest in around 95% growth assets, the highest proportion of any of 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.
Like our other funds, the Aggressive Funds will benefit from our exclusive partnership with BlackRock, giving ASB’s investment customers access to global expertise from the world’s largest investment management firm.
Anyone wondering whether this might be a good option for them can access our free KiwiSaver advice whether they’re an existing customer or not. Our specialists can give ASB KiwiSaver Scheme advice either in branch or via our contact centre using our 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. Our team of qualified Wealth Managers also provides tailored investment advice and expertise to help customers understand and achieve their personalised goals.”
Aligned with the launch of the new Aggressive Funds, ASB’s digital KiwiSaver calculator and advice tool has been enhanced to include an interactive future balance calculator to help customers with their ‘first home buyer’ and ‘saving for retirement’ goals. This projection function, alongside KiwiSaver fund advice, will help arm customers with a greater understanding of how their KiwiSaver investment can help them achieve their future financial goals.
As of 30 September 2023, ASB has over half a million customers with around $20 billion invested across its suite of managed funds, including around $15 billion in the ASB KiwiSaver Scheme. In the past year, ASB provided KiwiSaver advice to 80,000 customers.