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It is encouraging to see that industry feedback is being sought on this topic and Mosaic has prepared and submitted its responses to the questions asked in the discussion paper.
We are supportive in principle of KiwiSaver providers investing in private or unlisted assets, where this is done in a manner consistent with the KiwiSaver Act, the stated investment objectives of the fund and, importantly, is supported by prudent and professional investment management and fiduciary practices.
In our view expanding KiwiSaver investments into private assets (in an expediated or material way) should be approached cautiously, ensuring adherence to sound investment governance, transparency, and robust risk management - we feel there is a delicate balance to be struck between facilitating greater investment in private assets and maintaining the integrity and purpose of the KiwiSaver proposition for members.
A big thank you to Tracey Berry and Mark Jephson as my co-collaborators on this submission.
