Milford Asset Management has won the Morningstar 2016 KiwiSaver Fund Manager of the Year Award for the third time, following on from wins in 2013 and 2014. Milford has been a finalist in this category every year since 2011.
Morningstar noted in their award citation:
“Milford was at the forefront of a competitive KiwiSaver sector thanks to its well-tenured and seasoned investment team, exceptional client service, industry-leading risk-adjusted results, and a commendable focus on investor education and engagement. These characteristics all make Milford the pre-eminent choice among KiwiSaver providers.”
Managing Director of Milford, Anthony Quirk, said “we are delighted to receive this award as its criteria specifies that the product provides the best all round solutions to New Zealanders for their KiwiSaver investment. As such, it is a very pleasing recognition of Milford delivering to its investors on all aspects of our KiwiSaver offer.”
Quirk also said “this award continues the real momentum in our business with strategies for further growth in KiwiSaver and other investment product areas”.
Milford has over $500m of KiwiSaver funds out of its total funds under management of $3.4 billion. It has the highest average member balance of any KiwiSaver Provider and is one of the fastest growing providers.
In 2015 the average Milford KiwiSaver balance increased by $7,430 to $39,230, while the average balance across the industry for all KiwiSaver members rose by $1,610, to $11,950.
Quirk reaffirmed that “Milford aims to continue and enhance its unique combination of great risk adjusted investment returns, excellent client service and its real commitment to transparent and timely investor reporting.”