
US$2.5b deal will double Xero revenues by 2028, says CEO
Investment
3 mins to read
US$2.5b deal will double Xero revenues by 2028, says CEO
Analysts say Xero is paying a high multiple to buy US payments company Melio, but are positive about the strategy and the growth prospects.
Melio says it's America's fastest-growing bill pay and invoicing system.

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1News
5 hours ago
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You can DIY your KiwiSaver, but should you?
More KiwiSaver schemes allow investors to choose their own investments - but should you do it? This week, Sharesies expanded its 'self select' KiwiSaver option to include US shares and exchange-traded funds. Members can now add more than 150 New Zealand and US investments to their KiwiSaver portfolios, alongside 'base funds'. Up to half a KiwiSaver member's plan can be allocated to their own investment picks, with a maximum of 5% in each pick. To varying degrees, Craigs Investment Partners, NZ Funds, Nikko, InvestNow, Kernel and KiwiWRAP also allow investors to select where their money goes. Sharesies super and funds general manager Matt McPherson said investors said they wanted more connection and control over what was available. ADVERTISEMENT "People who want to take some of the control, but not all of it are who we're building for." He said about 40% of Sharesies KiwiSaver members had some of their own picks and about 10% of their contributions going into those. He said the most popular self-select pick was the S&P500. "What people like about that is that it's very low cost and it's very passive." Investments in big global brands were also proving popular, such as Microsoft, Apple and Amazon. Each stock was in its own pie fund for Sharesies investors to simplify tax considerations. Genesis Advice financial adviser Edward Glennie said it was sensible for KiwiSaver schemes to have limits on how much choice investors could have, "If you're allowed to put 100% on one particular stock, that might compromise your returns, particular if you're unadvised." ADVERTISEMENT He said he would work with clients through KiwiWRAP to help them set up a suitable portfolio. Self-select options could sometimes have higher costs, but he said that was probably the direction the market was headed. It also allowed people to get away from the 'one manager' model that had been dominant since the scheme launched 18 years ago. "I think the market is gradually opening up." Data director Greg Bunkall said it was difficult to anticipate most individuals outperforming fund managers with their own picks. "In Australia, studies comparing self-managed superannuation fund (SMSF) portfolios with APRA-regulated funds present mixed results, with superior returns observed among SMSFs that possess substantial balances and leverage the expertise of financial advisors in their decision-making processes." McPherson said the option would not be the right thing for all investors. "Fund managers do great work of finding undervalued companies and investing in them, so that's why the product is built around this idea of, if you want to, you can do a bit of it, as opposed to having to take on all the responsibility." ADVERTISEMENT McPherson said Sharesies' model was more like the self-directed options seen in Australian, than full self-management. Kernel Wealth founder Dean Anderson said members could "mix and match" from Kernel's 21 funds. "We've found overall investors are very informed, with fund selection often reflecting an investor's age and life stage. Of course, Kernel isn't a default provider, so investors have typically made an educated decision to move to us and have realised the benefits of being engaged with their KiwiSaver. "Consistently outperforming the market over time is incredibly challenging, but KiwiSaver members, who customise their plans, often have a specific purpose in mind. Some may want 100% of their KiwiSaver invested in global shares, others might prioritise values by choosing ESG-centric funds or they could be aiming to diversify away from other assets they own, selecting funds that balance their overall wealth. "As investors approach the time to access their KiwiSaver, the self-select function becomes even more valuable. They might start to bucket their assets-moving funds for the first few years of retirement spending into a cash fund, while keeping another bucket in higher-growth assets to support their financial needs 10, 20 or even 30 years down the line. "This flexibility is incredibly useful, rather than being forced to only be in one strategy."

RNZ News
7 hours ago
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KiwiSaver members to get one last chance at $521 government contribution
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Scoop
8 hours ago
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Tasman Mayoral Relief Fund Open For Donations
Following a government contribution of $100,000 to the Tasman Mayoral Relief Fund earlier today, the fund is now open to accept donations from the public. Any person or organisation wishing to donate to the Nelson Tasman Mayoral Relief Fund can deposit funds into the Tasman District Council bank account 12-3193-0002048-00. When making a donation, please use the reference 'Mayoral Relief Fund'. Tasman District Deputy Mayor Stu Bryant says the region has experienced significant and widespread damage. 'The impact of this event will be felt for months, particularly within Tasman's agricultural sector, which has been hit hard,' he says. 'We've heard from many people across Tasman wanting to help. One of the most effective ways to support the recovery is by donating to the Mayoral Relief Fund. It enables us to reach those who aren't able to access assistance through other channels.' The Fund will be open to any resident, ratepayer, business owner, and not-for-profit organisation in Tasman regions that have suffered financial hardship as a result of the weather event that began on Friday 27 June 2025. The fund will provide assistance on a one-off basis for extraordinary circumstances where real need can be shown. Those who wish to apply for the Mayoral Relief Fund can email MayoralRelief@ 'This event has caused immense devastation across the region — but amid the hardship, the incredible way our communities have stepped up to offer help and support has been truly heartening,' says Stu.