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Hi, Matt, it's been pretty exciting the last few days. We've released the self select for the US for our keysaver members. How has it been going?
Easily the most requested feature that we've had since we launched keysaver about two years ago. We launched fifty five US companies and ETFs, the largest, most widely held, most popular investment options on the Shares's platform from the US markets are now available for people to self select into their kisaver investment plans. So it's early days, you know, it's just after lunch time on the on the launch day.
We are seeing our existing customers updating their plans to include some UIs companies you know, and some new customers also who want to use the investment plan builder to have a look at how it could work for them. And then you know, some people signing up and asking us questions and things.
It is early days, but can you tell us maybe what are the most popular stocks thus far.
Yeah, I mean the most popular stocks. I don't think we'll be any surprise because they are the most popular stocks I guess on the charesies platform, but also the most popular stocks for a lot of Q saver managers too if you look into what they're holding their funds.
So the.
You know, the top choices so far are companies like Microsoft, Meta, Amazon and Videos in There, which has been really popular on the platform for a while now. The rocket Lab was actually the first the first US option we made available in our beta program, which was a nod I guess to the fact that it's a New Zealand founded company that is on the US markets as well.
Now you mentioned the investment builder, can you explain to listeners and viewers what that actually is.
Yes. Our QV Saver scheme is a bit unique in that we've introduced the idea that anyone can go in and have a bit more control over the individual companies that make up their QV service scheme. So we thought it was really important to let people do that in a really safe and kind of experimental way outside of having to use their actual money. So we have an
Investment plan Builder. It's on our website, you can go through and correct your investment plan, see what fees, see what level of risk, look at all the different companies and ETFs and funds and things we have, and you can do it in a way that you can update it and if you like it, you can actually import it into the app. But for most people, that's where we're directing them to have a look and see how this all works because it is a unique concept.
So it's things like how much risk, how much I'm going to pay and fees that sort of thing, so I sort of get a bit of a taste before I commit.
Yeah, because everyone's kepsaver can actually be different with us, and so we can't just say, oh, you're paying one percent for your kivsaver, because I could choose, you know, a fundat much lower than that that I can add some of my own picks, and the price level and the risk level of each portfolio could be quite different. And so you can do that in a way where we will do all that maths for you and present it back in a way that you can compare to other schemes.
The other thing that seems quite exciting is is you can get exposure to things that you might not normally have it your key we save, for example, through ETFs. I understand we can now invest in crypto.
That's right. So the criteria for what makes it into as an investment option is driven by a few things. I think our ultimate goal is to provide as much access as possible. But the options that we include, we also have liquidity hurdles, so we have a minimum size of the companies. We also have a widely held rule because what we're doing is we are turning each of these options into a PI fund. We have some additional yeah, into a tax efficient PIE fund. We have some additional
obligations about ensuring that the options are widely held. And so you know, we've started with fifty five companies and funds and that will expand over time when we're interested in feedback from people what they think is missing and what they do and don't like. But yeah, we have
one crypto option, which is the Icehars ETF. We have a few other companies like that that we actually have some volatility warnings on within the the you know, the crypto ETF has been quite volatile since it's been launched, as have a few other companies like rocket Lab. As I mentioned earlier on.
So Matte just before we finished, let's explain how the fund works. I mean, I can't put everything into Tesla, can I correct?
So we have a concept of guardrails, and guard rails are investment limits that we apply to your investment plan, which is your standing instructions on how to invest contributions as they arrive into the scheme. And those guardrails require you to have at least fifty percent of your contributions invested into a base fund, which is a diversified fund. You can have one hundred percent invested into a divestified fund if you want, but no less than fifty percent.
And then we have around one hundred and fifty companies in ETFs from New Zealand and the States. The maximum for each of those is five percent per selection. So I could have ten companies at five percent each, or I could have one hundred companies at half a percent each, for example, included in my investment plan, and as money arrived into the scheme, it would be invested according to those proportions.
Are you predicting that people will be a real mix of those percentages or is there like a typical investor.
Yeah. Today, what we've seen is around half of our members have picked at least one company and on average around ten percent of contributions are invested into self select and ninety percent into managed funds.
So still slightly conservative if.
We Yeah, look the guardrails are there to enforce the divestfication. It's a it's a foundation of risk management when it comes to investing, as is the investment plan concept, which means your dollar cost averaging, you're buying no matter whether the price is up or down. And so you know, the base fund is like our course satellite type approach
as well. So we've got you know, a number of different things working together here because qpsaber is a long term investment and we want to make sure that we get the risk levels you know, managed as well as we can.
So, Matt, if people are interested, how do they go how do they go about getting into the self select for KEEPSAB.
I'd recommend you have a look at the Investment Plan Builder, So head to our website. You'll find your way to the Kiwi Saver sit. It's pretty well signposted. Have a look at it. There's nothing like being able to actually have a play with something when it's not your money and get comfortable with the idea and if so, you know, follow the prompts.
Thanks Matt. It's about probably watching the space and seeing what investors do.
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