1 00:00:00,520 --> 00:00:03,040 Speaker 1: Investing and involves the risk you might lose the money 2 00:00:03,040 --> 00:00:06,439 Speaker 1: you start with. We recommend talking to a licensed financial advisor. 3 00:00:07,160 --> 00:00:11,000 Speaker 1: We also recommend reading product disclosure documents before deciding to invest. 4 00:00:11,240 --> 00:00:13,640 Speaker 1: Everything you're about to see and here is current at 5 00:00:13,640 --> 00:00:14,480 Speaker 1: the time of recording. 6 00:00:18,520 --> 00:00:21,239 Speaker 2: Hi, Matt, it's been pretty exciting the last few days. 7 00:00:21,280 --> 00:00:25,319 Speaker 2: We've released the self select for the US for our 8 00:00:25,400 --> 00:00:28,360 Speaker 2: keysaver members. How has it been going? 9 00:00:29,040 --> 00:00:32,599 Speaker 3: Easily the most requested feature that we've had since we 10 00:00:32,680 --> 00:00:36,320 Speaker 3: launched keysaver about two years ago. We launched fifty five 11 00:00:36,640 --> 00:00:42,720 Speaker 3: US companies and ETFs, the largest, most widely held, most 12 00:00:42,760 --> 00:00:46,360 Speaker 3: popular investment options on the Shares's platform from the US 13 00:00:46,440 --> 00:00:49,840 Speaker 3: markets are now available for people to self select into 14 00:00:49,840 --> 00:00:54,200 Speaker 3: their kisaver investment plans. So it's early days, you know, 15 00:00:54,280 --> 00:00:58,040 Speaker 3: it's just after lunch time on the on the launch day. 16 00:01:00,240 --> 00:01:05,240 Speaker 3: We are seeing our existing customers updating their plans to 17 00:01:05,360 --> 00:01:10,360 Speaker 3: include some UIs companies you know, and some new customers 18 00:01:10,400 --> 00:01:13,720 Speaker 3: also who want to use the investment plan builder to 19 00:01:15,160 --> 00:01:16,680 Speaker 3: have a look at how it could work for them. 20 00:01:16,720 --> 00:01:18,959 Speaker 3: And then you know, some people signing up and asking 21 00:01:19,040 --> 00:01:20,040 Speaker 3: us questions and things. 22 00:01:20,360 --> 00:01:22,800 Speaker 2: It is early days, but can you tell us maybe 23 00:01:23,080 --> 00:01:24,880 Speaker 2: what are the most popular stocks thus far. 24 00:01:25,520 --> 00:01:27,880 Speaker 3: Yeah, I mean the most popular stocks. I don't think 25 00:01:27,880 --> 00:01:31,440 Speaker 3: we'll be any surprise because they are the most popular 26 00:01:31,480 --> 00:01:34,480 Speaker 3: stocks I guess on the charesies platform, but also the 27 00:01:34,480 --> 00:01:36,600 Speaker 3: most popular stocks for a lot of Q saver managers 28 00:01:36,600 --> 00:01:38,640 Speaker 3: too if you look into what they're holding their funds. 29 00:01:39,080 --> 00:01:40,240 Speaker 1: So the. 30 00:01:41,800 --> 00:01:48,200 Speaker 3: You know, the top choices so far are companies like Microsoft, Meta, 31 00:01:48,440 --> 00:01:52,480 Speaker 3: Amazon and Videos in There, which has been really popular 32 00:01:52,480 --> 00:01:56,960 Speaker 3: on the platform for a while now. The rocket Lab 33 00:01:57,040 --> 00:02:02,120 Speaker 3: was actually the first the first US option we made 34 00:02:02,160 --> 00:02:05,480 Speaker 3: available in our beta program, which was a nod I 35 00:02:05,520 --> 00:02:08,400 Speaker 3: guess to the fact that it's a New Zealand founded 36 00:02:08,800 --> 00:02:13,119 Speaker 3: company that is on the US markets as well. 37 00:02:13,240 --> 00:02:16,320 Speaker 2: Now you mentioned the investment builder, can you explain to 38 00:02:16,760 --> 00:02:18,880 Speaker 2: listeners and viewers what that actually is. 39 00:02:19,800 --> 00:02:24,160 Speaker 3: Yes. Our QV Saver scheme is a bit unique in 40 00:02:24,240 --> 00:02:29,560 Speaker 3: that we've introduced the idea that anyone can go in 41 00:02:30,040 --> 00:02:34,000 Speaker 3: and have a bit more control over the individual companies 42 00:02:34,080 --> 00:02:37,200 Speaker 3: that make up their QV service scheme. So we thought 43 00:02:37,200 --> 00:02:40,240 Speaker 3: it was really important to let people do that in 44 00:02:40,280 --> 00:02:43,320 Speaker 3: a really safe and kind of experimental way outside of 45 00:02:43,360 --> 00:02:46,680 Speaker 3: having to use their actual money. So we have an 46 00:02:46,680 --> 00:02:49,560 Speaker 3: Investment plan Builder. It's on our website, you can go 47 00:02:49,600 --> 00:02:54,119 Speaker 3: through and correct your investment plan, see what fees, see 48 00:02:54,160 --> 00:02:57,480 Speaker 3: what level of risk, look at all the different companies 49 00:02:57,520 --> 00:03:01,240 Speaker 3: and ETFs and funds and things we have, and you 50 00:03:01,280 --> 00:03:05,000 Speaker 3: can do it in a way that you can update 51 00:03:05,040 --> 00:03:08,239 Speaker 3: it and if you like it, you can actually import 52 00:03:08,280 --> 00:03:10,919 Speaker 3: it into the app. But for most people, that's where 53 00:03:10,919 --> 00:03:12,600 Speaker 3: we're directing them to have a look and see how 54 00:03:12,600 --> 00:03:14,720 Speaker 3: this all works because it is a unique concept. 55 00:03:15,120 --> 00:03:18,200 Speaker 2: So it's things like how much risk, how much I'm 56 00:03:18,240 --> 00:03:20,040 Speaker 2: going to pay and fees that sort of thing, so 57 00:03:20,080 --> 00:03:21,639 Speaker 2: I sort of get a bit of a taste before 58 00:03:21,680 --> 00:03:22,160 Speaker 2: I commit. 59 00:03:22,560 --> 00:03:25,600 Speaker 3: Yeah, because everyone's kepsaver can actually be different with us, 60 00:03:26,120 --> 00:03:28,880 Speaker 3: and so we can't just say, oh, you're paying one 61 00:03:28,880 --> 00:03:33,720 Speaker 3: percent for your kivsaver, because I could choose, you know, 62 00:03:33,800 --> 00:03:36,720 Speaker 3: a fundat much lower than that that I can add 63 00:03:36,720 --> 00:03:40,640 Speaker 3: some of my own picks, and the price level and 64 00:03:40,840 --> 00:03:45,680 Speaker 3: the risk level of each portfolio could be quite different. 65 00:03:45,720 --> 00:03:47,680 Speaker 3: And so you can do that in a way where 66 00:03:47,720 --> 00:03:49,920 Speaker 3: we will do all that maths for you and present 67 00:03:50,000 --> 00:03:52,120 Speaker 3: it back in a way that you can compare to 68 00:03:52,160 --> 00:03:52,800 Speaker 3: other schemes. 69 00:03:53,440 --> 00:03:55,800 Speaker 2: The other thing that seems quite exciting is is you 70 00:03:55,880 --> 00:03:59,640 Speaker 2: can get exposure to things that you might not normally 71 00:03:59,720 --> 00:04:02,520 Speaker 2: have it your key we save, for example, through ETFs. 72 00:04:02,800 --> 00:04:05,760 Speaker 2: I understand we can now invest in crypto. 73 00:04:07,040 --> 00:04:12,320 Speaker 3: That's right. So the criteria for what makes it into 74 00:04:12,800 --> 00:04:16,520 Speaker 3: as an investment option is driven by a few things. 75 00:04:16,560 --> 00:04:19,280 Speaker 3: I think our ultimate goal is to provide as much 76 00:04:19,320 --> 00:04:25,080 Speaker 3: access as possible. But the options that we include, we 77 00:04:25,120 --> 00:04:28,760 Speaker 3: also have liquidity hurdles, so we have a minimum size 78 00:04:28,760 --> 00:04:34,599 Speaker 3: of the companies. We also have a widely held rule 79 00:04:35,120 --> 00:04:37,680 Speaker 3: because what we're doing is we are turning each of 80 00:04:37,680 --> 00:04:44,120 Speaker 3: these options into a PI fund. We have some additional yeah, 81 00:04:44,160 --> 00:04:49,320 Speaker 3: into a tax efficient PIE fund. We have some additional 82 00:04:49,320 --> 00:04:54,800 Speaker 3: obligations about ensuring that the options are widely held. And 83 00:04:54,880 --> 00:04:58,640 Speaker 3: so you know, we've started with fifty five companies and 84 00:04:58,640 --> 00:05:02,360 Speaker 3: funds and that will expand over time when we're interested 85 00:05:02,360 --> 00:05:04,760 Speaker 3: in feedback from people what they think is missing and 86 00:05:04,800 --> 00:05:08,120 Speaker 3: what they do and don't like. But yeah, we have 87 00:05:08,360 --> 00:05:16,039 Speaker 3: one crypto option, which is the Icehars ETF. We have 88 00:05:16,839 --> 00:05:19,719 Speaker 3: a few other companies like that that we actually have 89 00:05:19,720 --> 00:05:24,560 Speaker 3: some volatility warnings on within the the you know, the 90 00:05:24,600 --> 00:05:28,239 Speaker 3: crypto ETF has been quite volatile since it's been launched, 91 00:05:28,720 --> 00:05:30,920 Speaker 3: as have a few other companies like rocket Lab. As 92 00:05:30,960 --> 00:05:32,000 Speaker 3: I mentioned earlier on. 93 00:05:32,520 --> 00:05:35,760 Speaker 2: So Matte just before we finished, let's explain how the 94 00:05:35,839 --> 00:05:39,640 Speaker 2: fund works. I mean, I can't put everything into Tesla, 95 00:05:39,720 --> 00:05:41,160 Speaker 2: can I correct? 96 00:05:41,200 --> 00:05:45,800 Speaker 3: So we have a concept of guardrails, and guard rails 97 00:05:46,040 --> 00:05:49,679 Speaker 3: are investment limits that we apply to your investment plan, 98 00:05:50,760 --> 00:05:53,880 Speaker 3: which is your standing instructions on how to invest contributions 99 00:05:53,920 --> 00:05:58,760 Speaker 3: as they arrive into the scheme. And those guardrails require 100 00:05:58,839 --> 00:06:03,279 Speaker 3: you to have at least fifty percent of your contributions 101 00:06:03,320 --> 00:06:07,160 Speaker 3: invested into a base fund, which is a diversified fund. 102 00:06:08,440 --> 00:06:11,520 Speaker 3: You can have one hundred percent invested into a divestified 103 00:06:11,560 --> 00:06:14,160 Speaker 3: fund if you want, but no less than fifty percent. 104 00:06:15,240 --> 00:06:18,480 Speaker 3: And then we have around one hundred and fifty companies 105 00:06:18,480 --> 00:06:23,160 Speaker 3: in ETFs from New Zealand and the States. The maximum 106 00:06:23,279 --> 00:06:27,920 Speaker 3: for each of those is five percent per selection. So 107 00:06:28,000 --> 00:06:33,080 Speaker 3: I could have ten companies at five percent each, or 108 00:06:33,120 --> 00:06:36,200 Speaker 3: I could have one hundred companies at half a percent each, 109 00:06:36,360 --> 00:06:39,520 Speaker 3: for example, included in my investment plan, and as money 110 00:06:39,600 --> 00:06:42,919 Speaker 3: arrived into the scheme, it would be invested according to 111 00:06:42,920 --> 00:06:43,720 Speaker 3: those proportions. 112 00:06:44,120 --> 00:06:46,599 Speaker 2: Are you predicting that people will be a real mix 113 00:06:46,680 --> 00:06:51,560 Speaker 2: of those percentages or is there like a typical investor. 114 00:06:51,839 --> 00:06:55,320 Speaker 3: Yeah. Today, what we've seen is around half of our 115 00:06:55,400 --> 00:07:01,080 Speaker 3: members have picked at least one company and on average 116 00:07:01,200 --> 00:07:05,919 Speaker 3: around ten percent of contributions are invested into self select 117 00:07:06,279 --> 00:07:08,440 Speaker 3: and ninety percent into managed funds. 118 00:07:09,320 --> 00:07:12,560 Speaker 2: So still slightly conservative if. 119 00:07:12,440 --> 00:07:17,040 Speaker 3: We Yeah, look the guardrails are there to enforce the divestfication. 120 00:07:17,160 --> 00:07:20,360 Speaker 3: It's a it's a foundation of risk management when it 121 00:07:20,360 --> 00:07:24,320 Speaker 3: comes to investing, as is the investment plan concept, which 122 00:07:24,360 --> 00:07:28,880 Speaker 3: means your dollar cost averaging, you're buying no matter whether 123 00:07:28,920 --> 00:07:32,160 Speaker 3: the price is up or down. And so you know, 124 00:07:33,040 --> 00:07:35,920 Speaker 3: the base fund is like our course satellite type approach 125 00:07:35,960 --> 00:07:39,480 Speaker 3: as well. So we've got you know, a number of 126 00:07:39,480 --> 00:07:43,320 Speaker 3: different things working together here because qpsaber is a long 127 00:07:43,400 --> 00:07:44,920 Speaker 3: term investment and we want to make sure that we 128 00:07:44,920 --> 00:07:47,600 Speaker 3: get the risk levels you know, managed as well as 129 00:07:47,600 --> 00:07:47,960 Speaker 3: we can. 130 00:07:48,120 --> 00:07:50,920 Speaker 2: So, Matt, if people are interested, how do they go 131 00:07:51,120 --> 00:07:53,920 Speaker 2: how do they go about getting into the self select 132 00:07:54,280 --> 00:07:55,480 Speaker 2: for KEEPSAB. 133 00:07:55,480 --> 00:07:57,760 Speaker 3: I'd recommend you have a look at the Investment Plan Builder, 134 00:07:57,840 --> 00:08:01,040 Speaker 3: So head to our website. You'll find your way to 135 00:08:01,080 --> 00:08:04,360 Speaker 3: the Kiwi Saver sit. It's pretty well signposted. Have a 136 00:08:04,360 --> 00:08:08,000 Speaker 3: look at it. There's nothing like being able to actually 137 00:08:08,120 --> 00:08:10,800 Speaker 3: have a play with something when it's not your money 138 00:08:12,040 --> 00:08:14,360 Speaker 3: and get comfortable with the idea and if so, you know, 139 00:08:14,440 --> 00:08:15,560 Speaker 3: follow the prompts. 140 00:08:15,800 --> 00:08:19,280 Speaker 2: Thanks Matt. It's about probably watching the space and seeing 141 00:08:19,320 --> 00:08:20,240 Speaker 2: what investors do. 142 00:08:21,840 --> 00:08:24,760 Speaker 1: Cheesy's Investment Management Limited is the issuer of the Cheesy's 143 00:08:24,840 --> 00:08:27,120 Speaker 1: key Wes Have a Scheme. The Product Disclosure Statement for 144 00:08:27,120 --> 00:08:29,000 Speaker 1: the Cheess's key Wes Have a Scheme has been laudged 145 00:08:29,000 --> 00:08:31,400 Speaker 1: and may be viewed on the Disclosed Register or on 146 00:08:31,440 --> 00:08:32,480 Speaker 1: our Documents page.