Prioritising KiwiSaver and retail clients
ANZ Investments has announced its decision to exit the wholesale business segment to concentrate more on enhancing services for its KiwiSaver, managed funds, and ANZ Private customers.
Focusing on core strengths
Fiona Mackenzie (pictured above), managing director of ANZ Funds Management, stressed the growth and significance of KiwiSaver within the company’s portfolio.
“As KiwiSaver has continued to grow and become a far more significant part of our business, we have decided now is the time to focus our efforts on those investors,” Mackenzie said.
She said that these areas now represent nearly 90% of the business, underscoring the company’s commitment to its more than 670,000 investors.
Strategic exit from wholesale
The decision to step away from the wholesale segment was driven by a strategic focus on areas with more substantial growth potential.
“Our wholesale business requires ongoing investment and expertise; however, we don’t see future growth for ANZ Investments in this space,” Mackenzie said.
She said that the transition for wholesale clients would be handled with utmost care to ensure minimal disruption.
Enhancing retail investment services
ANZ Investments, which earlier this year celebrated a significant milestone with more than 100,000 KiwiSaver members using their schemes for first-home purchases, continues to focus on enhancing the financial well-being of its clients, with KiwiSaver playing a pivotal role.
“For many, KiwiSaver will be their biggest asset alongside their home, and as the country’s largest provider more New Zealanders trust us with their KiwiSaver savings and home loan than anyone else,” Mackenzie said.
The focus will be on helping clients grow their investments and achieve better outcomes for life post-retirement.
“We’re committed to improving investment outcomes for our customers,” Mackenzie said. “ANZ Investments remains an active investor and will continue to make investment decisions that we believe will deliver strong long term investment outcomes for all our customers.”
Read the ANZ media release here.
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