Quotation for Today, Wednesday 8 September
September 8, 2010
My Kiwisaver account is with Gareth Morgan Kiwisaver and has been since the day the scheme started. My balance was $7571 as at 31 July from contributions made up to that date of $7502. His investment strategy has earned me $69 over 3 years! I started off in the Conservative Fund and shifted to the Balanced Fund at the beginning of 2009 picking the time just right for a recovery in world equities.
Unfortunately GMK wasn’t on the ball for the recovery and missed out on the equity lift completely. To say “I’m disappointed in his performance” would be a gross understatement.
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The man thinks UNICEF gives the best “return” on charity giving. Worse, he goes on TV to proclaim it.
One might as well help the poor by burning a pile of money to keep them warm.
If I could choose where to put my money I would join kiwisaver.
It is disgraceful that I am forced to support fund managers if I join.
Nothing simpler than placing ones money with a couple of big established banks in normal term deposits.
I find it hard to understand why anyone would want Gareth Morgan to be managing their Retirment Savings. Not for me thanks -the man is a windbag publicity seeker with no credibility.