Quick Fire Finance Of The Day:
"When our elder son was born in 1988 we were living in the UK and started a £30 per month investment into a unit trust. It was a moderate-risk UK smaller companies fund. It has been a good but not top flight performer.
We maintained contributions until early 2015, so have invested under £10,000. The current value, despite Covid is £60,700.
I don’t have the Excel skills to work out the average annual rate of return, but it is certainly single figures. Income was reinvested.
UK unit trusts have lower charges than most NZ funds, but recent downward pressure by some KiwiSaver providers is improving things for the investor here."
Source NZ Herald 26 September 2020
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