Gareth Morgan Investments Limited Partnership (GMI), a New Zealand owned investment manager, has reached a milestone of $2 billion funds under management.
GMI, a wholly-owned subsidiary of Kiwi Wealth, manages the investments for the Gareth Morgan KiwiSaver Scheme (GMK), its own superannuation scheme, and the private wealth of investors through its private portfolio investment management service.
Tracey Berry, GMI’s acting CEO, said reaching the $2b milestone was proof that GMI’s approach to customer service continued to resonate with the public.
“GMI has maintained its commitment to giving people total transparency over their funds, and a prudent investing ethos,” she said.
“The business has undoubtedly benefited from a 15% increase in GMK members due to utilising the Kiwibank store network. But GMI has also increased the amount of private wealth under management through its own sales channel,” Tracey said.