Summer is an independent New Zealand KiwiSaver scheme managed by Salt Investment Funds Limited, part of SPH Wealth Holdings Limited, a 100% NZ-owned company. It began as the Forsyth Barr KiwiSaver Scheme and was relaunched as Summer in 2016. This review covers that history, Summer’s fees and its fund range; other schemes are covered in our KiwiSaver provider reviews.
Summer at a Glance
| Feature | Detail |
|---|---|
| Manager | Salt Investment Funds Limited (part of SPH Wealth Holdings Limited) |
| History | Originally the Forsyth Barr KiwiSaver Scheme; rebranded Summer in 2016 |
| Supervisor | Trustees Executors Limited |
| Default provider | No |
| Fund options | Conservative Selection, Balanced Selection, Growth Selection and seven single-asset funds; members can combine any of the funds as My Plan |
| Growth Selection annual fee (indicative) | 0.90% fund charge plus $3 a month account fee (about $306 a year, roughly 1.02%, at $30,000) |
| Digital tools | Online member portal |
| Ethical option | No dedicated ethical fund confirmed; check current PDS for exclusions |
Fee and fund data should be verified directly at summer.co.nz or via Sorted’s Smart Investor tool, as fees and fund structures change periodically.
Summer’s History: From Forsyth Barr to Summer
- Summer began as the Forsyth Barr KiwiSaver Scheme, launched by the investment firm Forsyth Barr
- In 2016, it was relaunched as Summer, with the name inspired by financial author Martin Hawes’ retirement planning book 20 Good Summers; Hawes chaired Summer’s investment committee
- The scheme is now managed by Salt Investment Funds Limited, part of SPH Wealth Holdings Limited
Kiwibank’s KiwiSaver history is separate: Kiwibank’s investment arm, Kiwi Wealth, was sold to Fisher Funds for $310 million, completing on 1 December 2022, and its scheme was renamed the Fisher Funds KiwiSaver Plan. See our Kiwibank KiwiSaver review and Fisher Funds KiwiSaver review for that story.
Fund Range
Summer offers a small number of diversified options plus a customisable portfolio:
| Fund | Focus |
|---|---|
| Conservative Selection | Defensive-weighted, shorter time horizons |
| Balanced Selection | Mixed growth/income |
| Growth Selection | Growth-weighted, longer time horizons |
| My Plan | Members build a custom portfolio by choosing any combination of Summer’s funds, including the single-asset funds (NZ cash, NZ and global fixed interest, NZ, Australian and global equities, listed property) |
Fees
Summer’s Growth Selection fund has an annual fund charge of 0.90% plus an account fee of $3 a month ($36 a year). On a $30,000 balance that is about $306 a year, or roughly 1.02%.
The same $36 account fee applies alongside the other funds’ charges: Conservative Selection 0.75% and Balanced Selection 0.90% (Summer PDS). My Plan’s cost depends on the funds you combine (single-asset funds from 0.50% for NZ Cash to 0.90% for the equity and listed property funds). For other providers’ fees side by side, see the KiwiSaver fund fees comparison.
Features and Limitations
Features:
- Independent (non-bank), actively managed provider
- My Plan customisation across individual asset classes
- Formerly the Forsyth Barr KiwiSaver Scheme
Limitations:
- Growth Selection fund charge of 0.90% plus a $3 monthly account fee, higher than passive index providers such as Kernel and Simplicity as at October 2026
- Not a government-appointed default provider
- Separate from Kiwibank’s former KiwiSaver arm, Kiwi Wealth; its former members are covered in our Fisher Funds KiwiSaver review
Where to check the latest data
Rates, fees and returns change often. Before deciding, check current figures yourself:
- Sorted Smart Investor: compares fees, returns and risk levels of KiwiSaver and managed funds.
- Disclose register: holds each fund's product disclosure statement and quarterly fund updates.
- The provider's latest fund update: gives the fund's current fees, returns and holdings.
Frequently Asked Questions
What is Summer KiwiSaver?
Summer is an independent NZ KiwiSaver scheme managed by Salt Investment Funds Limited (part of SPH Wealth Holdings Limited). Its predecessor was the Forsyth Barr KiwiSaver Scheme, rebranded Summer in 2016. Kiwibank’s former KiwiSaver arm, Kiwi Wealth, is a separate business that Fisher Funds bought in 2022.
Is Summer the same as Kiwibank KiwiSaver?
No. Kiwibank’s former KiwiSaver arm, Kiwi Wealth, was sold to Fisher Funds in December 2022 and is now the Fisher Funds KiwiSaver Plan. Summer is an entirely separate scheme with a different history and manager.
What are Summer KiwiSaver fees?
Summer’s Growth Selection fund has an annual fund charge of 0.90% plus an account fee of $3 a month ($36 a year), about $306 a year on a $30,000 balance. Check Summer’s current PDS for exact figures across all fund options.
Is Summer KiwiSaver a default provider?
No. Summer is not one of the government-appointed default providers; KiwiSaver default funds explained lists who they are.
What to Read Next
- KiwiSaver Providers Compared: full provider comparison
- Kiwibank KiwiSaver Review: the actual Kiwibank/Kiwi Wealth history
- Fisher Funds KiwiSaver Review: where former Kiwibank/Kiwi Wealth members now sit
- KiwiSaver Fees Comparison: fees across providers
- How to Switch KiwiSaver Provider: steps and timing