25 June 2019
A new tool to help Kiwis become more engaged in their KiwiSaver investments has been welcomed by Booster Principal, David Beattie. Booster manages $1.7 billion worth of New Zealanders' KiwiSaver funds and were immediately interested in Mindful Money's new investment platform, which will help Kiwis choose investment funds that more closely align with their values.
Booster has been a leader in socially responsible investments, making it possible for Kiwis to invest in line with their values. "We have been involved in this area for a long time so we are very interested in any new tools that help Kiwis be more actively invovled in their investments. Once we heard about Mindful Money's initiative we were keen to support in any way we could," says Mr Beattie.
"All our core funds follow Responsible Investing principles and take into account environmental, social and governance factors. We also have a range of Socially Responsible Investment funds that additionally use values-based investment criteria."
Booster was the first KiwiSaver provider to have KiwiSaver funds certified by RIAA, the peak industry body representing responsible and ethical investors across Australasia and is still one of only a few with certified funds today. It is also the only financial services provider to be accredited by CoGo.
"KiwiSaver members get a bad rap for being unengaged. That hasn't been our experience entirely. Those of our members who are driven by socially responsible investing are very engaged. We hope the Mindful Money platform will help more people get more interested in what they are investing in," says Mr Beattie.
"Recently were were the only New Zealand signatory to a global investor initiative calling for action on investment in controversial weapons. We were astounded that no other providers took part. We think the work Mindful Money is doing will play an important role in growing awareness that people can send a strong message using the power of their savings.
"It's important that people are engaged with their money in every sense. That's why we've launched a number of tools to help Kiwis do this, including our new automated budgeting tool, and Booster Tahi, a specialised investment fund which lets Kiwis invest in the New Zealand economy."
Learn more about ethical investing with Booster
25 June 2019
Booster's investment arm, Tahi, has today announced a substantial investment into specialised transmission components manufacturer, Dodson Motorsport.
Dodson Motorsport, based in Glenfield, Auckland, are world leaders in producing aftermarket dual clutch transmission components for high-end and performance vehicles such as Lamborghini, Porsche, Mercedes, Audi and BMW.
Dodson's upgrades to existing transmissions radically improve their reliability and durability, particularly when under racing conditions. Dodson's innovative components are now in demand worldwide and with a global distribution network of over 150 dealers and distributors in the United States, Middle East and Asia, they are poised for significant expansion and growth.
Booster Tahi, a fund which helps Kiwis to invest their savings back into successful New Zealand businesses, will take a 35 per cent share in Dodson Motorsport and representation on its board.
Tahi's investment signals a diversification of its portfolio into the specialised manufacturing sector, expanding from its existing investments in horticulture and wine production.
Booster Managing Director Allan Yeo says the investment represents a milestone for Booster as it seeks to increase the level of investment back into New Zealand businesses.
"Dodson's is a great fit for Booster. This is the kind of innovation and inventiveness that embodies everything we stand for and now our members have the opportunity to invest in this company doing unique and world-leading work too," says Mr Yeo.
This investment reinforces Booster's commitment to helping New Zealand businesses fulfil their growth potential and keep them Kiwi owned.
"By securing this investment, Booster will continue to practice our philosophy of backing New Zealand businesses."
"We see significant growth potential for Dodson's, supplying international markets from New Zealand. They are a Kiwi success story and this move will take it a step further with everyday New Zealanders investing in their future growth."
Read the full press release here
07 June 2019
It’s the sporting question that stumps many a pub quiz pundit: who was at the non-striker’s end during the infamous underarm bowling incident?
Bruce Edgar’s unbeaten century against the Aussies in 1981 was cruelly overshadowed by the team in yellow’s decision to bend, and then break, the spirit of cricket.
Now the man known as “Bootsie” is looking to use the lessons learnt from a lifetime of sporting leadership to help drive New Zealand’s investment industry to the next level.
“I’ve seen what a dominant, well-financed cricketing nation can do on the pitch to smaller competitors. We responded to the underarm incident not by trying to bring the other guys down, but by building ourselves out and being truly competitive on the international stage. I’ll be bringing that kind of fighting Kiwi spirit off the pitch and into the New Zealand investment market,” says Mr Edgar.
As one of New Zealand’s finest opening batsmen, Bruce Edgar is used to building resilient partnerships and being part of a team that punches above its weight. Having faced some of the greatest fast bowlers of all time in Lillee, Holding and Thomson, Edgar is no stranger to playing a straight bat in a sometimes hostile environment.
Once part of one of New Zealand’s greatest cricketing lineups, alongside Martin Crowe, John Wright, and Sir Richard Hadlee, Edgar has built a career out of sporting and business leadership.
Most recently coach of the Wellington Firebirds, Edgar is an example to young New Zealand cricketers of how to balance passion and profession. Along with playing 39 Test Matches and 64 One Day Internationals for New Zealand, Bootsie has a wide experience in the financial sector, mixing corporate governance with sporting leadership.
Bootsie is now swapping his backyard spikes for boardroom shoes, looking to harness his skills in the Booster board room after being appointed Executive Director for Booster, the Kiwisaver provider and financial services company.
“Booster has a unique investment story. They’re nimble, people-focused, and committed to investment in New Zealand companies. Booster is used to competing with larger, more dominant players and getting runs on the board, something I’ve become accustomed to over my professional career,” says Mr Edgar.
31 May 2019
The Government’s Budget announcement of a new $300 million venture capital fund is a welcome injection into New Zealand’s capital market, says Booster Managing Director Allan Yeo.
“We have many innovative mid-sized new businesses here that have been limited by lack of funds. The country hasn’t historically invested in developing these vibrant businesses, which have huge potential for growth. It’s important that we support Kiwi businesses with investment that allows them to stay Kiwi owned, so we can keep jobs and intellectual property here,” says Yeo.
“It’s important that the government sets well-defined goals for this new fund. The announcement will be welcome news to many businesses today, but we need more specific guidance on what the objectives of the fund are and what kind of companies it will target before they get their hopes up.”
“We know from our own Booster Tahi Fund that there is enormous potential to harness active investments, so it’s great to see the Government acknowledging the capital gap for companies between $2-15million that move beyond initial start-up.”
“$300 million is a good start but far more is required. That is why we have invested, and will continue to invest, in this area.”
Booster’s Tahi fund is invested in horticulture, wine and soon, high-end manufacturing. Investors can contribute to these unlisted assets, either directly or through Booster’s KiwiSaver funds.
“Only a fraction of New Zealanders invest back into New Zealand businesses, instead preferring passive investments such as housing. Active investment in Kiwi ventures will keep us thriving. It’s great to see the Government showing confidence in our mid-sized local businesses and encouraging growth through venture capital.”
Learn more about Tahi
09 May 2019
Booster is proud to announce it is now accredited as a Living Wage employer by Living Wage Aotearoa. This achievement marks our ongoing commitment to help New Zealanders live financially secure lives.
The Living Wage encourages employers to pay workers an hourly wage that allows a worker to cover the necessities of life. It reflects the basic expenses of workers such as food, transportation, housing and childcare, and is calculated independently each year by the New Zealand Family Centre Social Policy Unit.
The Living Wage rate is voluntary and for 2019, it is $21.15 per hour. This is higher than the current minimum wage of $17.70 per hour.
Booster pledged to become Living Wage accredited as part of our CoGo accreditation in 2018. The Living Wage accreditation formalises our existing policy to pay our direct employees a living wage and extends to cover indirect workers employed by contractors who provide Booster with a regular service.
By committing to paying a living wage, we ensure all Booster employees can cover their basic living expenses, contribute to their communities and move towards a more secure financial future.
Learn more about The Living Wage movement.
09 April 2019
Booster has launched an innovative new budgeting tool, which instantly provides a snapshot of spending and income by automatically collecting and collating live transactional data from a user's different banking providers.
The budgeting tool, available free to all Booster members, automatically sorts spending into categories, allowing the user to track their expenses against income and compare their expenses to previous months via an easy-to-follow graphical user interface.
"Many people tell us they find managing their money difficult and time-consuming. Even the best of us can be broken by it. We wanted to create a simple and pain-free way to help people understand what they're spending, set goals and then keep track of them," says Allan Yeo, Managing Director of Booster.
"Our tool automatically tells you how much you are spending on what. Often that's the hardest part; nobody enjoys wading through statements and bills to create a budget. By using your payment data and automating it, what once took hours is now done in seconds. From there, you can identify the changes you want to make and most importantly, track how you are going.
“Additional functionality will be continually added over the coming months to provide users with the ability to set personalised spending targets for each category, set ‘good months’ as an example to follow, and receive notifications when set spending limits are reached.
“We already provide our members with an app that gives them a snapshot of their total financial picture. It enables users to capture all their assets (cash, KiwiSaver, properties, savings and investments etc.) against their liabilities (rent, mortgages, debts, student loans etc.).
“It’s a simple net wealth calculation but for many people, it’s the first time they’ve seen it that way. Once they do, it can be very motivating. Driving down debt and saving becomes even more rewarding when you can see the effect it has on your overall financial picture.
“The launch of the budgeting tool marks an important step for the Booster team. We are one of nine default KiwiSaver providers. We want to not only lift the savings of Kiwis but improve their overall financial resilience.
“At Booster, our philosophy is to help New Zealanders live with financial confidence. We want to put them at the centre and in control of their whole financial picture, helping them make the best possible decisions and live well, no matter what stage of life they are at – from starting out to retirement,” says Yeo.
31 Jan 2019
Booster has announced its purchase of the former Mahana Estates Winery site and the formation of the Booster Wine Group.
Booster's specialist investment arm, Tahi, secured the Nelson-based site, adding to our other investments in the wine industry; Awatere River, Waimea Estates, Bannock Brae and Sileni Estates.
"In addition to the synergies we can achieve with our other wine investments, we are pleased to have brought a beautiful piece of land and a state-of-the-art wine making facility back into Kiwi ownership. New Zealanders collectively had more than $50b in their KiwiSaver accounts last year - however, only a fraction of this is being invested back into New Zealand businesses," says Allan Yeo, Managing Director of Booster.
Booster's approach is unique. Over the last 18 months, Booster's strategy of supplementing listed shares with direct investment in local companies has changed the landscape for Kiwi investors.
Through the purchase of the Mahana site and the formation of the Booster Wine Group, Booster has created a new investment opportunity for the benefit of our KiwiSaver members.
Booster's move now marks another milestone in the KiwiSaver industry.
Read the full press release here.
10 Jan 2019
Booster is pleased to announce it is one of the first New Zealand co-signatories to the recent global investor initiative, calling for action on continued investment in controversial weapons.
The request to global index providers, including S&P Global, MSCI and FTSE Russell, is to remove companies involved in controversial weapons manufacture from the major index funds.
The open letter calls for global indices to exclude companies involved in the manufacture of cluster munitions, anti-personnel mines and chemical, biological and nuclear weapons from the main benchmarks. The initiative highlights a growing expectation that index providers need to reflect investor practices and expectations, making it easier for investors to actively avoid investing in companies that still manufacture controversial weapons.
David Beattie, Principal, said, “Booster has always taken a responsible approach to investing. Kiwi investors are increasingly wanting to know that their investments are not supporting harmful or controversial activities. Becoming a co-signatory to this global initiative is further confirmation of our commitment to responsible investing.”
“This initiative is a way for the global investment community to use its collective voice to persuade the major index providers to change their approach to one that better reflects the beliefs of everyday investors - as well as international conventions,” said Beattie.
Since the initiative’s launch, over 115 signatories across the world, controlling USD $6.167tn in assets, have signed the open letter (as at 7 Jan 2019).
Read the full press release here
05 November 2018
SuperRatings has released its top-rated KiwiSaver schemes for 2019, along with a list of schemes that provide the highest value on a 'net benefit' basis.
Booster achieved a Gold rating, one of only eight KiwiSaver schemes to achieve the rating.
SuperRatings' assessment criteria considers five key factors, including investments, fees, member servicing, scheme administration and goverance. Schemes awarded a Gold rating are considered to be strong across all key assessment criteria.
Di Papadopoulous, Marketing Strategist, Booster, says "We are pleased to see the results of the SuperRatings top rated KiwiSaver schemes of 2019 - particularly given its emphasis around customer engagement. We believe this is a key area within the industry, so that providers ensure people are in the right fund for them. We're proud to be the top provider for customer engagement. We also consider Net Benefit as one of the most important ways to measure overall value for KiwiSaver members, and are pleased to see this as a strong consideration in the SuperRatings criteria."
12 October 2018
You may have heard that global share markets have fallen sharply over the last few days and be naturally wondering what this means and what you should do.
The first thing to know is that markets will do this from time to time and that this is the second time they have done so this year. Back in February they also dropped sharply when Donald Trump first threatened trade wars with China. They recovered well after that, because it was soon realised that world economic growth and company profitability would not be significantly affected – importantly, this remains the case today.
The next thing to do is avoid panicking into any rash decision to suddenly change what fund you are currently in. We know this can be easier said than done. So this might be good time to check in with our online risk profile questionnaire, to double check that the fund you are in is still the right one for your time horizon and risk appetite. You could then use the results as the basis of a discussion with your financial adviser – they can help you with the results of the risk profile and talk through anything else that might be on your mind. We'll be keeping advisers well-informed about any market developments. If you don’t currently have a financial adviser, we can recommend one for you.
Market movements like we have seen are a bit unsettling and unpredictable in the short term, but they are not unusual. What is more predictable though, is the superior performance of markets over the long term. So, if you are a long-term investor in KiwiSaver, staying with markets through thick and thin has always been the best thing to do.
10 October 2018
As a default KiwiSaver Scheme provider, supporting our members to make the most of their Booster KiwiSaver scheme account is high on our priority list.
For many default members, that includes helping them make an informed decision (or 'active choice') about the fund they're in, so they are set up to meet their savings goals and aspirations.
The FMA has just released their annual report on KiwiSaver for 2018. Booster has topped the table for enabling default members to make their own decisions about which fund to invest in - this includes those who chose to stay in the Default Savers fund and those who moved into a different investment fund. In 2018, 15% of out total default members made an active choice, which means they're taking more control over their financial futures.
While this is great recognition for Booster and an indicator of the level of support we offer to all our members, what we're most pleased about is the growing number of our default members who are taking charge of their KiwiSaver accounts.
Read the FMA 2018 KiwiSaver Annual report
18 September 2018
Recently, an article was published announcing a new 'web-based' rating system for KiwiSaver schemes, based on their ethical offerings.
Booster's two SRI funds achieved a much higher rating on this scale than was reported. Both of our SRI funds have been independently certified by the Responsible Investment Association of Australasia (RIAA) as ethical investment funds.
Booster applies nine exclusion filters to our SRI funds. By investing in our SRI funds, you can be assured you are not investing in socially controversial industries or businesses with damaging activities such as tobacco, fossil fuels and nuclear power production.
Disappointingly, the rating process and outcomes were more of an indication of how well KiwiSaver providers communicate their responsible investing process to investors, rather than being about the quality of the investment itself.
The article's analysis of KiwiSaver providers does present an opportunity for both ourselves and the industry to provide clearer consumer investor information. At Booster, we will be improving how we share our Responsible Investing information on our website.
Booster is a member of RIAA and remains committed to continuous improvements in how we integrate Environmental, Social and Governance factors into our decision-making on behalf of all clients.
Read our Responsible Investment Policy here
06 September 2018
Sileni Estates is the newest addition to Tahi's investment portfolio. Renowned for their quality, Sileni are one of New Zealand's premium wines with distribution to 60 countries around the world.
Tahi's investment is part of a new era for Sileni and means we will be working together with the Avery family to provide a solid foundation for Sileni's operations and continue a proud history for the Sileni brand.
The addition of Sileni Estates gives the wine businesses within Tahi significant scale in the New Zealand wine industry and strengthens their collective ability to take the best of New Zealand to the world.
Learn more about Tahi
27 August 2018
Supporting New Zealand innovation and business has always been important to Booster. As part of our investment strategy, Booster has formed a partnership with Viclink, the commercial arm of Victoria University of Wellington.
This partnership, NZ Innovation Booster LP, provides secured funding to take research from Victoria University to the next stage of development or commercialisation.
Learn more about NZ Innovation Booster
23 August 2018
Booster is pleased to announce it has now become the first accredited financial services provider with Conscious Consumers, and has received their brand new 'Responsible Investment' badge.
Developed by Conscious Consumers in conjunction with RIAA, the Responsible Investment badge is awarded to financial service companies that offer investment funds which exclude socially controversial or damaging investment activities.
Booster has always had a responsible investment philosophy to our fund management, and we're pleased to be awarded this recognition in an industry first.
28 July 2018
At Booster, one of our driving philosophies is to help New Zealanders build financial resilience. So, it made sense to support Nikau Foundation's recent PledgeMe campaign for the Wellington Resilience Fund - a dedicated Area-of-Special Interest Fund to help build the resilience of the Wellington Region against potential threats like a significant earthquake.
With Booster's support and donation, Nikau Foundation hit their $20,000 goal to supply community centres & schools with vital emergency equipment.
Booster’s Managing Director, Allan Yeo said, “We’ve called Wellington home for 20 years, so we’re Wellingtonian through and through. At Booster we’re about building resilience of the financial kind. Nikau’s fundraising was an opportunity to support the resilience of the very special city we call home. It was just the natural thing for us to do.”
“Being based in Wellington helps make Booster the kind of company we are. Supporting this initiative builds a stronger, resilient, more connected community. That’s important to us because we live and work here.”
Learn more about Nikau Foundation
Consumer's latest KiwiSaver report looked at the overall customer satisfaction with chosen KiwiSaver providers.
Booster achieved a 65% customer satisfaction rating, with more than 25% of members opting to join Booster on the advice of a financial adviser. Our members were also the least likely to be thinking of switching.
Compare that with the survey's winner, BNZ, who had a 71% satisfaction rating, but more than 22% were looking to switch to another KiwiSaver provider within a year.
That's fantastic news and a great achievement for Booster.
The full report is available on Consumer.org.nz