Westpac KiwiSaver Scheme

BT Funds Management (NZ) Limited acts as the scheme manager and investment manager. It is part of the Westpac Banking Corporation group. Nigel Jackson serves as General Manager of Investments & Insurance for Westpac New Zealand, overseeing the retail wealth and insurance product suite that includes the KiwiSaver scheme.

It is a registered KiwiSaver scheme, which is New Zealand's national voluntary, opt-out retirement savings system. It functions as a pooled pension plan open to any eligible New Zealand resident, not a private family office or institutional separate account. It is one of a limited number of default schemes appointed by the government.

Direct property and listed real estate investments form a distinct allocation. Known holdings include Precinct Properties NZ Ltd (New Zealand commercial), Allied Properties REIT (Canada), National Storage REIT (Australia), and the Elanor Commercial Property Fund (Australia). The scheme supplements these with a broader 'Alternative Investments' allocation across global markets.

The scheme's investments are managed internally by BT Funds Management (NZ) Limited, which constructs multi-asset portfolios using a mix of direct securities, in-house funds, and external mandates. The exact split between internal management and external manager allocations is not publicly broken out, but the property holdings suggest a blend of direct investment and managed fund participation.

BT Funds Management (NZ) Limited is a signatory to the United Nations-supported Principles for Responsible Investment (PRI). The Westpac KiwiSaver Scheme has been designated a Responsible Investment Leader by the Responsible Investment Association Australasia (RIAA), indicating above-average integration of environmental, social, and governance factors across the portfolio relative to Australian and New Zealand peers.

Westpac New Zealand's community partnerships include the Westpac Chopper Appeal (supporting New Zealand's air ambulance services), Shine (a domestic abuse prevention charity), and the Middlemore Foundation (funding healthcare projects at Middlemore Hospital). These are bank-level initiatives, not scheme assets, and operate independently of KiwiSaver member funds.

No. The Westpac KiwiSaver Scheme is exclusively available to New Zealand citizens and permanent residents who are eligible to join KiwiSaver. It does not accept direct institutional mandates, pooled fund commitments from offshore allocators, or external family office capital.