An advisor to the superannuation industry is warning regulators against taking a hard line on performance fees for KiwiSaver fund managers.
The Financial Markets Authority late last year issued guidelines on the calculation of performance fees.
Harbour Asset Management last month released its own research, finding New Zealand managers lagging international best practice.
But actuary Jonathan Eriksen says making life tougher for managers striving to beat industry benchmarks could come back to bite the industry, and investors.
He says New Zealand could learn from the experience of Australian regulators who have cracked down on performance fees.