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The NZX is starting from scratch, and should be able to cut costs once it gets enough investors on board.Aaron Jenkins, NZX's fund management boss, says the initial interest in the global ETFs has been encouraging, which bodes well for future pricing."As we build scale within each of the funds we will review the management fees," he says.
In simple terms, when the market has performed poorly, you'll have a good chance of paying no tax at all, even if you received some dividend income.However, Consilium accredited investment fiduciary Ben Brinkerhoff says it's probably not a fair comparison.Vanguard has only been able to offer rock-bottom fees in recent years by building enormous scale, he says.It's worth noting that buying ETFs listed on the Australian stock exchange, like those offered by Black Rock, eliminates the custodial fee problem.LOCAL BENEFITSThere are other advantages to going down the local route.Register with us and content you save will appear here so you can access them to read later.
New Zealand is finally joining the giant revolution underway in global investing.
These days, more than 50 per cent of new investments made in the United States are under 'passive' management.
Cash is pouring into exchange-traded funds (ETFs), which offer huge diversification by simply tracking entire markets or sectors.
That's six times more expensive than buying into the Vanguard fund directly, at 0.05 per cent.
The other eight funds charge 0.45 per cent, roughly three times more.
PRICINGAt first glance, the new ETF fees are still eye-wateringly expensive.