Market drop saw 'concerning' 54% increase in KiwiSaver switches: FMA
KiwiSaver returns plummet to negative $821m due to Covid impact.
The Financial Markets Authority is concerned by a 54% increase in people switching KiwiSaver funds during Covid-19 market volatility which saw overall returns fall to negative $821 million.
The market watchdog's KiwiSaver Annual Report for the year ended March 2020 showed there were more than
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