Creating the common ownership fund in New Zealand has already been done. It was as simple as choosing a name, writing a simple to read charter, setting up a website to interact with, and setting up a bank account.
NZ Fund: The Manaia Fund.
Westpac joint bank account: 03 0498 0828007 00.
First Fund manager: EmpowerUs Ltd.
The Fund will operate on a perpetuated 10% growth which has been determined through the 10-15 year repayment guideline.
All funds will be put to use as soon as there is enough available. No money will sit idle, for as soon as the money goes back out it starts to come back in.
Today`s type of funds take money out of the investment. The Manaia Fund keeps all of the money in.
Unlike a conventional return on investment, where a fund manager buys into an investment, and gets a return based on risk, then pays himself for the privilege of setting the investment up.
If a conventional investment goes south or bad, the fund manager still gets paid, and the investor loses all of his hard earned wages.
Kiwisaver funds return the median investor, 3% per annum, which does not even keep up with inflation. In other words, your funds only look like they are growing because you keep putting money in, but in actual fact what you will get for the deflating dollar means you are going backwards.
This is why, a unified fund owned by us all, and run with an intent such as ours, has a massive advantage over any existing competition type fund.
Your returns are not monetary as with conventional funds of today. Needs based for free is the outcome of the investment, not dollars after tax which is how things are normally done.
The Manaia Fund manager does not get paid and is not able to get his hands on any of the fund money.
For this ideal to work, no fund manager or anyone in that company, or any company there-after, may be privy to any kind of embezzling activity.
The Manaia Fund is also the only fund that can prove returns of 10% on its Investment model per annum.