Gareth Morgan KiwiSaver Scheme Performance data publically available

The Morningstar 3-year KiwiSaver performance survey released this morning made a bit of a
spectacle of the Gareth Morgan KiwiSaver Scheme by claiming the scheme “declined to disclose
the required information to participate in this survey”. But those who know Gareth Morgan’s
KiwiSaver Scheme know that full disclosure is the Scheme manager’s middle name. Our three year
performance data on the same basis as Morningstar reports other providers is available from the
Scheme’s website and has been available to the public for the past couple of weeks.

Andrew Gawith, Director Gareth Morgan KiwiSaver Limited—“We made it clear to Morningstar
and publically recently that we don’t believe KiwiSavers can totally rely on Morningstar’s data to
compare KiwiSaver providers. The Gareth Morgan KiwiSaver Scheme has moved to GIPS (Global
Investment Performance Standards) for reporting its performance – the first and only provider to
do so. The Government has made it clear that it wants KiwiSaver providers to produce robust and
comparable performance data; it is actively looking for a standard that it can require the industry to
meet. GIPS is the obvious standard to adopt.”

GMK’s monthly performance compared to benchmark and calculated according to GIPS standards is
available at http://gmi.co.nz/Pages/KiwiSaver/Performance.aspx