Craigs KiwiSaver Scheme Details

There's a lot more to selecting a KiwiSaver fund than just checking past returns and fees. If your hard-earned money is invested in KiwiSaver, you need to ask the important questions to understand where and how that money is invested.

What questions are important to Investors?

Note: The following information is taken from Craigs Kiwisaver Scheme's own website, fund updates, and the product disclosure statement published in 23 July 2020.

Who is Craigs ?

Facts & History of the KiwiSaver provider


A lot has happened since Craigs Investment Partners opened its first office in Whakatane. In 1984 Neil Craig (now Executive Chairman) left his job in the corporate planning division of Tasman Pulp and Paper and established Craig & Co in Whakatane. In 2019 they opened their 18th & 19th Branches Queenstown branch relocated to new premises in Craigs Investment Partners House in Queenstown. They opened their 18th branch in Havelock North and their 19th branch in Nelson.

In 2020 After a very successful strategic alliance for nearly ten years, an agreement was made for Craigs to acquire Deutsche Bank’s 49.9% equity interest previously held in Craigs. The acquisition is expected to settle in late June 2020 and will place 100% ownership back to Craigs staff shareholders.

They have grown from one small regional branch to a national network, advising on some of New Zealand's largest corporate transactions to providing personal investment advice to individuals from Kerikeri to lnvercargill.

For more information on their History, please click on the link below :





Craigs Investment Partners KiwiSaver has Assets Under Management (AUM) of over $NZ 290 million and 5,777 members. 

Who are the people looking after my money?

The investment team, structure and their alignment with clients

The Investment team

Neil Craig - Executive Chairman | Director

Neil graduated from Lincoln University with a B.Ag Com (Economics). He founded Craig & Co. Ltd in 1984 and through a series of acquisitions, he built the Company into a retail broking business with a national presence. Craigs Investment Partners now has 19 branches throughout New Zealand and Neil retains the role of Chair.

Neil is also Chair of NZX-listed Comvita Limited and Chair of the Tauranga based angel investment group, Enterprise Angels Inc. He is also a Director of Pohutukawa Private Equity Limited, AGInvest Holdings Limited, NZ Cricket, and a number of private, largely horticulture based and early-stage companies. He is a member of the Institute of Directors.

Mark Lister - Head of Private Wealth Research

Mark joined Craigs Investment Partners in 2004. Before joining Craigs, he worked in the electricity sector for a number of years.
Mark is Head of Private Wealth Research for Craigs Investment Partners Private Wealth division. His team is responsible for all of the asset allocation, strategy, and portfolio recommendation decisions for Craigs clients.

Mark has a regular presence in the business media, and spends time across the country speaking with business people, investors, and clients.

Brett Shepherd - CEO, Investment Banking | Director

Throughout his career, Brett has led or advised on some of the largest M&A and ECM activity in New Zealand, including advisor to Vodafone on the sale of its NZ business for $3.4bn, the acquisition of Nuplex by Allnex for $1.2bn, the acquisition of Tegel Group by Bounty Fresh for $574m, JLM on the IPO's of Ports of Napier and Oceania, Crown Advisor to NZ Government on the $4.Sbn Mixed Ownership Model IPO Program, JLM on the $1.9bn IPO of Meridian Energy and Crown Advisor on the MRP IPO of $1.7bn.

Brett Shepherd also serves as a Director of Craigs Investment Partners, after joining Craigs Investment Partners in 2013. Prior to this Brett was CEO of Deutsche Bank New Zealand for 7 years. Brett was named Outstanding Maori Business Leader in 2007.

Ronan McCabe - Head of Portfolio Management

Geoff joined Craigs Investment Partners in 2014 and has 40 years' experience in financial markets. His first role was as a research analyst with a UK stockbroking firm. On returning to New Zealand, Geoff undertook institutional dealing roles with a number of local broking firms, during which time he Chaired the Auckland Stock Exchange and was a Board Member of the New Zealand Stock Exchange.

He later undertook various roles including CFO at NZX. As Acting Head of Advisory, Geoff is responsible for managing the Craigs Investment Partners Private Wealth network. This incorporates 19 branches throughout New Zealand, employing over 160 Authorised Financial Advisers and a number of Adviser Assistants.Geoff is an Authorised Financial Adviser and an NZX Adviser. He has been a Member of the NZX Markets Disciplinary Tribunal for 6 years and has just completed a 7-year term on the Board of Swimming New Zealand.

How is the Investment Team Structured?

The Craigs KiwiSaver Scheme is registered under the KiwiSaver Act 2006 and was established by the Trust Deed dated 27 June 2007 and is now governed by an amended and restated deed dated 15 November 2016. Craigs Investment Partners Superannuation Management Limited (also referred to as “the Manager” or “CIPSML”) is the manager of the Scheme. It is a specialist funds management firm responsible for issuing and managing the Scheme. It is a wholly-owned subsidiary of Craigs Investment Partners Limited (“CIP”).

The Manager utilises the following services in relation to the Scheme:

  • CIP Compliance to monitor this SIPO on a daily basis and to provide additional support in regards to legal and regulatory duties;
  • CIP Product Committee, CIP Investment Committee and CIP Private Wealth Research (“CIP PWR”) to research, review and screen securities for inclusion in the Investment Options list or removal from that list.
  • CIP Client Services to handle application and redemption requests and answer client queries in relation to the Scheme and to operate as the
  • Scheme Administration Manager and Registrar; The New Zealand Guardian Trust Company Limited as the Supervisor; and
  • KPMG as the Auditors.

Below is a link to the SIPO in full:




Investment Philosophy

The Scheme’s investment philosophy and strategy are based on the following principles:

  • Certain KiwiSaver investors wish to have control over where their KiwiSaver funds are invested, rather than rely on external investment managers;
  • This is particularly true of investors that have a range of investments and wish their KiwiSaver funds to be invested in a manner that fits with their overall investment portfolio;
  • The Scheme enables members to construct and manage a portfolio which meets their particular investment philosophy, strategies and objectives, including as to desired investment outcome, investment timeframe, expected return, risk profile and risk tolerance;
  • Scheme members are supported in the above process by access to advice and assistance from Craigs Investment Advisers and also through the screening of investments for the Investment Options list by the CIP Product Committee;
  • The Investment Options list makes available to Scheme members a wide range of investment types (equities, investment trusts, managed funds, index funds, listed property trusts and cash). This enables members to create a portfolio that matches their investment strategies;
  • Scheme members can adopt their own investment management style for their investment portfolio through how the portfolio is constructed and also the manner in which they monitor and make changes to it; and
  • Because Scheme members choose their own portfolios, management style, risk profile, etc, there are no pre-assigned security selections (other than the Investment Options list), target asset allocations or ranges or performance benchmarks set for individual Scheme members or for the Scheme as a whole. Individual members will determine these for themselves.

How do I know my money is safe?

Governance & Compliance processes

All KiwiSaver Scheme Providers must ensure they meet regulatory standards and act with customer interests in mind.

KiwiSaver Scheme Managers must exercise care, diligence, and skill in the investment of scheme assets, and act in accordance with the stated investment policy and objectives. The FMA monitors that KiwiSaver Schemes are compliant with their obligations. Additionally, KiwiSaver Scheme Trustees also have a responsibility as front-line supervisors for monitoring the management and administration of these schemes.

Craigs Supervisor 

Craigs Supervisor is Guardian Trust. Their experience and reputation have made them the preferred corporate trustee for many of New Zealand's leading corporations, financial institutions, fund managers, and banks. They are licensed by the Financial Markets Authority under the Financial Markets Supervisors Act 2011 to act as a supervisor of issues to the public in respect of Debt securities
KiwiSaver schemes, non-fund schemes, specified managed funds, and superannuation schemes.

A supervisor is a licensed entity independent of a KiwiSaver scheme provider that supervises the provider’s management of the scheme. KiwiSaver schemes are trusts, and (except for restricted KiwiSaver schemes) the terms of the trust deed states that the supervisor (or another custodian) must hold all contributions and investments in trust for the investors.

Below you will find a link to the Guardian Trust in full:


Guardian Trust 


Craigs Custodian

Custodial Services Limited (CSL) is Craigs Custodian. A custodian plays a key role in protecting your investments. They hold your money and investments (i.e. keep custody of them) on your behalf. So they are the legal holder of your assets while you are the beneficial and ultimate owner.  

Custodial Services Limited (CSL) is a wholly-owned subsidiary of Craigs Investment Partners Limited.  CSL provides custody through a nominee service whereby securities are registered in the name of CSL but held by CSL on your behalf in a bare trustee capacity. Although CSL assumes the legal title of your securities, you retain beneficial ownership of your securities at all times.

How do they decide where to invest?

The investment processes followed by the manager

CIP Product Committee & Investment Selection

The CIP Product Committee is responsible for approving and reviewing the Scheme’s Investment Options and meets at least quarterly. The Committee forms part of the Scheme’s governance structure and is authorised by the CIPSML Board.

It ensures that all securities listed as Investment Options have been through an appropriate due diligence review ensuring all securities are either:

  • Reviewed and recommended by CIP Private Wealth]Research and approved as “covered” by the CIP Investment Committee (described below);
  • New Zealand or Australian managed funds;
  • Listed ETFs; or
  • International investment trusts (including listed UK investment trusts).

Where an Investment Option is not covered by CIP Private Wealth Research, a due diligence review is undertaken by the CIP Product Committee, which includes fund performance and risk, administration functions and a review of the issuing manager’s structure and processes.

Further details on the CIP Product Committee are available in the Other Material Information document available on the CIP website or from the offer register at:


CIP Product Committee 


Investment Options

Each Scheme member will select investments from the list of Investment Options with the benefit of access to advice and assistance from Craigs Investment Advisers and also through the screening of investments for the Investment Options list by the CIP Product Committee. Investment Options include equities, investment trusts, managed funds, index funds, listed property trusts, and cash.

The CIP Private Wealth Research team analysts undertake analysis or use analysis from chosen providers, which considers data relating to a particular security, the industry and markets it operates in, competitive position, market liquidity together with general and specific economic indicators and commentary.

The key principles of the CIP Private Wealth Research team’s philosophy can be summarised as:

  1. A focus on quality across all asset classes; 
  2. An objective to maximise income and income growth and minimise external investment, but not eliminate management fees;
  3. A conservative approach to risk management; and 
  4. A recognition of the importance of careful and broad diversification

When considering whether a security should be covered on the list of Investment Options, the CIP Investment Committee considers amongst other things:

  • Performance data relating to the particular security (e.g. price earnings ratios, net asset values, premiums or discounts);
  • Sustainability of cash flows and dividends;
  • The market or markets it operates in;
  • General and specific economic indicators; and
  • Commentary from other analysts.

The CIP Product Committee is then responsible for determining whether a security should be included as an Investment Option.

The Investment Options include the QuayStreet Funds offered by QuayStreet Asset Management Limited, a related party of Craigs Investment Partners Superannuation Management Limited.

A list of the current Investment Options is available on the CIP website:


Investment Options

Does Craigs Invest responsibly?

Social and Ethical Considerations

Socially responsible investing (SRI) or Environmental, Social and Governance investing (ESG), also known as sustainable, socially conscious, “green” or ethical investing, is any investment strategy which seeks to consider both financial return and social/environmental good to bring about social change regarded as positive by society.

Basically, SRI investing is investing in companies that have a positive impact on society, based on a number of factors.

Responsible Investment Policy

The Investment Options include the QuayStreet Funds (a related party of CIPSML):

The guiding philosophy of the QuayStreet Socially Responsible Investment Fund is to endeavour to have a diversified portfolio of investments that are considered to be environmentally and socially sustainable, whilst still applying our traditional portfolio investment criteria.

The Socially Responsible Investment Fund is one of New Zealand’s longest-running socially responsible retail funds.

The Fund invests in income (e.g. fixed interest) and growth assets (e.g. shares) which are selected in accordance with their Socially Responsible Investment (SRI) Policy. The investment objective is to provide a return above the Fund’s benchmark over the long term.

Below is a link to their Responsible Investment Approach in full:


Responsible Investment Policy


The QuayStreet Funds

Over the past decade, socially responsible investment (SRI) funds across the globe have experienced tremendous growth. This has largely been driven by increasing investor demand for products across the following three broad categories of responsible investment:

  1. Integration of Environmental, Social and Governance (ESG) factors. The key principle here being that companies that possess strong ESG qualities are more sustainable and are better aligned with shareholder interests. Also that they will likely offer better long-term return/risk characteristics. This is often termed as positive or ESG screening.
  2.  Values-Based Investing is the alignment of one’s personal beliefs and values. This usually takes the form of avoiding investment in controversial sectors or companies or those that generate significant social or environmental costs. This is often termed as negative or exclusionary screening. 
  3. Impact Investing is where investors allocate their capital towards generating a benefit for the society or the environment. This is where the benefit outcome, usually unquantifiable in financial terms, often outweighs the importance of optimising the return/ risk allocation.

Two-stage SRI screening methodology

The first stage, of the two-stage SRI screening methodology, is identification of business activities that have a negative influence on the society or the environment.

They define this as their “exclusionary” list, formally represented by the following activities:

> Alcohol Production 

> Tobacco Production 

> Weapons/Armaments Production

 > Gambling > Mining of Fossil Fuels 

> Nuclear Power

 > Adult Entertainment

On a best endeavours basis, QuayStreet will avoid direct investment in companies that have direct and primary revenue exposure to these types of activities.

If a company, held by the portfolio that is governed by this Policy, happens to start generating revenue from these activities, QuayStreet will seek to divest as soon as practically possible. The divestment will be executed in such a way to avoid excessive costs or causing significant market impact.

The second stage of the screening process is a strict evaluation of ESG factors, both the associated risks and opportunities. Analysis and evaluation of ESG factors also ensure that high ethical standards will be achieved as exclusionary screening, by default, only looks at one aspect, type of business activity.

QuayStreet conducts comprehensive ESG analysis in order to identify companies whose primary business activity may not be deemed to have a negative influence on society or the environment but, in fact, whose behaviour or method of conducting business is questionable, harmful, or unsustainable.

This analysis does not only apply to companies but across the entire investment spectrum of assets, regions, and security types. QuayStreet recognises that a strong ESG profile can have a material impact on the long term risk and return the outcome of an investment. Therefore, the integration of this process is thoroughly conducted and monitored. Some of the considerations QuayStreet evaluates as part of its ESG analysis framework is shown over the page.


How do Craigs compare to others?

Best Performing KiwiSaver Funds

Aon Russell
Milford Active

*Past performance is not necessarily indicative of future performance.

*All returns are after fees and before tax, updated 30th September 2020.

*Source: MorningStar Fund Report September 2020

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Look at more than just fees and past performance

We have looked at the best performing KiwiSaver funds based on their 5-year returns, however, looking at past performance of a fund is just one aspect when choosing a KiwiSaver fund. Other questions you should be asking include:

  • How and where is my money invested? 

  • What is the level of volatility (risk) of this fund? Does it align with my volatility tolerance and capacity?

  • How do the fees compare to other funds with a similar rate of return?

  • What are the providers processes when selecting investments and making changes in the funds?

Our research team at National Capital looks at over 100+ funds and can recommend the right KiwiSaver investment for you. 

Why get advice from National Capital?

  • Detailed Research: We research various factors of KiwiSaver funds – from asset allocation all the way to ethical investing.

  • Answers: How do I know my money is safe? What risks are being taken?

  • Monitoring: We’re constantly monitoring the KiwiSaver landscape.

  • Expertise: Our team specialise in Investment and KiwiSaver research.

  • No cost to you: We get paid by the KiwiSaver providers

  • Gift of Time: We do the hard work, so you can focus on life.

Our KiwiSaver recommendations look at the big picture and not just the scorecard. So, what are you waiting for?

List of Craigs KiwiSaver Funds

Craigs  KiwiSaver Plan has KiwiSaver Funds and The Investment Options include the QuayStreet Funds offered by QuayStreet Asset Management Limited, a related party of Craigs Investment Partners Superannuation Management Limited. More details on each of these funds can be found in the PDS.