KiwiSaver fees clock shows how big a bite fund managers take out of returns

Low-cost passive KiwiSaver scheme provider Simplicity has launched an online KiwiSaver "fees clock".

The fees clock was inspired by the New York US Debt Clock, and was designed to highlight just how big a bite out of KiwiSaver returns fund manager fees were taking, said Simplicity founder Sam Stubbs.

The clock is spinning round at $1000 a minute, showing the combined fee-generating power of KiwiSaver schemes.

"When members finally understand what they're actually paying in fees this year, they could be shocked," Stubbs said.

from
http://www.stuff.co.nz/business/money/101034999/KiwiSaver-fees-clock-shows-how-big-a-bite-fund-managers-take-out-of-returns