New Zealand’s KiwiSaver Fund Enters Bitcoin Era, More in 5 Years

KiwiSaver Growth Fund, a fund management company in New Zealand, has put around 5% of its overall investment to Bitcoin. James Grigor, Chief Investment Officer at NZ Funds, expects that with the five years Bitcoin will feature in more KiwiSaver schemes.

The KiwiSaver provider changed its offer documents in October 2020 to allow it to invest in cryptocurrencies for the first time.

“If you are happy to invest in gold, you can't really discount bitcoin. Our KiwiSaver is majority built up through traditional assets classes, your bonds, and shares, and they will always be the asset classes that compound over time to give people the best retirement they can get. But, there's going to be times when it's not always going to be plain sailing. You may still have a positive view of those asset classes, but other opportunities present themselves,” Grigor said.