Thu, 11 Aug 2005
TOWER is delighted to announce important enhancements to its workplace savings services. These follow on from the May 2005 Government Budget announcements on KiwiSaver initiatives, to encourage New Zealanders to save for their future via their workplace.
Tony Hildyard, CEO Investment Businesses at TOWER, today signalled TOWER’s plans to further strengthen the investment proposition for clients in its workplace savings schemes. He said: “The Budget announcements have simply confirmed our strategy, that delivering competitive and attractive workplace saving solutions is what’s needed. TOWER will be a leader in this space, and we plan to deliver new savings offers over coming months.”
“We see TOWER continuing to lead in the workplace savings area. Our focus will be on providing investment products and services that will make it easy and cost-effective for New Zealanders to save. We are redesigning our products to provide greater flexibility for investors with full portability and a new investment structure – we believe that the changes will be seen as innovative and market leading.”
TOWER is currently one of New Zealand’s largest investment providers to the workplace market, and Mr Hildyard states they intend to grow further. “We pride ourselves on providing high quality investment management and service solutions for many workplace savings schemes throughout the country, and we now plan to take this to a new level,” he says.
At the same time, TOWER announced that administration of its workplace superannuation schemes will move to Jacques Martin, leaders in scheme administration in New Zealand. Mr Hildyard said: “This is a positive step to further enhance the service we provide our clients. Scheme administration is becoming more focused and is best performed by organisations that have specialised expertise in this area. We are delighted that Jacques Martin will be our partner in providing superior service to our clients.”
TOWER retains its full investment management, product and client relationship services, where Mr Hildyard says there is a recognised competitive edge. “TOWER’s overall objective of delivering superior investment solutions with excellent service remains the same,” he says. “We have an enviable record of adding value to investors’ portfolios and the new service options signalled today will allow more New Zealanders to benefit from TOWER’s investment management expertise.”
TOWER’s flagship ILS fund ranks 1st for reward for risk over 4, 5, 6, 7, 8, 9, 10 and 15 years and 2nd over 3 years (Mercer Survey, 31/03/05) and TOWER was recognised as FundSource Fund Manager of the Year in 2004.
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