The results are in and we’ve now got definitive answers for the top performing KiwiSaver funds for a period encompassing the Covid Pandemic, the Russia-Ukraine War and a hyper inflationary environment. Take a look at the standings across major fund categories and see how your fund performed.
It’s been a very tough 2022 for KiwiSaver, with total funds invested in the scheme dropping to $83 billion by the end of September. It’s been a year in which there have been very few places to hide in financial markets, as we can see with the latest data obtained by the Morningstar KiwiSaver Survey. All asset classes have come under pressure and it’s been notable that there have been significant drawdowns in fixed interest markets as central banks have embarked on the fastest set of interest rate rises that we have seen in decades. So even those conservative investors looking for that relative safety and low levels of volatility that are normally seen in conservative funds have experienced material drawdowns. We have ranked the funds on their average performance over the past 5 years as of 30 September 2022. Note that all performance is after fees, but before tax.
Conservative Funds – Best Performing
1. Milford Conservative = 3.1%
2. Quaystreet Conservative = 2.8%
3. KiwiWealth Default Conservative = 2.5%
4. Fisher TWO Cash Enhanced = 2.3%
5. ANZ Default Conservative = 2.2%
The figures above display the average yearly return over 5 years for the corresponding funds. The average return across all Conservative KiwiSaver funds for the most recent 5 years was 1.8%, therefore the Milford Conservative fund outperformed the market average by +1.3%
Milford Conservative v Market Average Conservative
Milford Conservative Fund Fees Compared to Market Average
Most KiwiSaver fees are calculated as a percentage of your total KiwiSaver balance. Some KiwiSaver providers also charge a fixed fee; however this is slowly being phased out and relatively small in comparison to the percentage fee. Please note that all performance figures stated above are net of any percentage fees.
Milford Conservative Fund fees = 0.95%
Market Average for Conservative Fund fees = 0.68%
About the Milford Conservative Fund
The Milford Conservative Fund is a diversified fund that primarily invests in fixed interest securities, with a moderate allocation to equities. The fund was started on the 1st of October 2012, with a total number of investors reaching 5,222.
The target asset allocation for the Milford Conservative fund is 18% growth assets, 82% income assets. For a detailed breakdown of the target asset allocation, please refer to the chart below.
For more information on the Milford Conservative fund, please find their most recent quarterly fund update.
Should you switch to the Milford Conservative Fund?
Conservative KiwiSaver funds are suited for those who want to withdraw their KiwiSaver investment within the next 3 years, and will do a great job in protecting your KiwiSaver account from market declines, while providing a small potential for generating returns. However, there is a lot more to consider when deciding on a KiwiSaver fund including:
– Is the KiwiSaver fund invested in an ethical manner?
– Does the KiwiSaver provider offer a mobile phone app?
– Is the KiwiSaver provider New Zealand owned?
– Is the KiwiSaver fund actively managed, or is it a passive investment?
If you want a recommendation on your KiwiSaver investment to make sure that you’re invested in a fund that is a top performer and aligns with your goals and values, please feel free to fill out our online fact find. This online fact find takes no more than 5 minutes to complete, and once submitted we will send you a free no-obligation KiwiSaver recommendation.
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Moderate Funds – Best Performing
1. Generate Moderate (formerly Conservative) = 3.9%
2. Westpac Moderate = 2.7%
3. Booster Moderate = 2.7%
4. OneAnswer Conservative Balanced = 2.6%
5. ANZ Conservative Balanced = 2.6%
The figures above display the average yearly return over 5 years for the corresponding funds. The average return across all Moderate KiwiSaver funds for the most recent 5 years was 2.4%, therefore the Generate Moderate fund outperformed the market average by +1.5%.
Generate Moderate (formerly Conservative) v Market Average – Moderate
Generate Moderate Fund fees Compared to Market Average
Most KiwiSaver fees are calculated as a percentage of your total KiwiSaver balance. Some KiwiSaver providers also charge a fixed fee, however this is slowly being phased out and relatively small in comparison to the percentage fee. Please note that all performance figures stated above are net of any percentage fees.
Generate Conservative Fund fees = 1.20%
Market Average for Moderate Fund fees = 0.88%
About the Generate Moderate Fund
The Generate Moderate Fund is a diversified fund that aims to provide a moderate investment return over the long-term through investment in a portfolio of actively managed cash, fixed interest, property and infrastructure assets, Australasian equities and international equities. The fund has a low to medium level of volatility. The fund started on the 16th of April 2013, and now has a total number of investors equalling 22,266.
The target asset allocation for the Generate Moderate Fund is 40% growth assets, 60% income assets. For a detailed breakdown of the target asset allocation, please refer to the chart below.
For more information on the Generate Moderate (formerly Conservative) Fund, please find their most recent quarterly fund update.
Should you switch to the Generate Moderate (formerly Conservative) Fund?
Moderate KiwiSaver funds are suited for those who want to withdraw their KiwiSaver investment within the next 3 – 5 years, and will provide your KiwiSaver account with a generous amount of protection from market declines, while also providing a modest potential for generating returns. However, there is a lot more to consider when deciding on a KiwiSaver fund including:
– Is the KiwiSaver fund invested in an ethical manner?
– Does the KiwiSaver provider offer a mobile phone app?
– Is the KiwiSaver provider New Zealand owned?
– Is the KiwiSaver fund actively managed, or is it a passive investment?
If you want a recommendation on your KiwiSaver investment to make sure that you’re invested in a fund that is a top performer and aligns with your goals and values, please feel free to fill out our online fact find. This online fact find takes no more than 5 minutes to complete, and once submitted we will send you a free no-obligation KiwiSaver recommendation.
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Balanced Funds – Best Performing
1. Milford Balanced = 6.8%
2. Quaystreet Balanced = 5.2%
3. SuperLife Ethical = 5.1%
4. Booster SRI Balanced = 4.6%
5. KiwiWealth Balanced = 4.3%
The figures above display the average yearly return over 5 years for the corresponding funds. The average return across all Balanced KiwiSaver funds for the most recent 5 years was 3.8%, therefore the Milford Balanced Fund outperformed the market average by +3.0%
Milford Balanced v Market Average – Balanced
Milford Balanced Fund Fees Compared to Market Average
Most KiwiSaver fees are calculated as a percentage of your total KiwiSaver balance. Some KiwiSaver providers also charge a fixed fee, however this is slowly being phased out and relatively small in comparison to the percentage fee. Please note that all performance figures stated above are net of any percentage fees.
Milford Balanced Fund fees = 1.09%
Market Average for Balanced Fund fees = 0.89%
About the Milford Balanced Fund
The Milford Balanced Fund is a diversified fund that primarily invests in equities, with a significant allocation to fixed interest securities. The fund was started on the 1st of April 2010, and now has a total number of investors equalling 17,097.
The target asset allocation for the Milford Balanced Fund is 61% growth assets, 39% income assets. For a detailed breakdown of the target asset allocation, please refer to the chart below.
For more information on the Milford Balanced Fund, please find their most recent quarterly fund update.
Should you switch to the Milford Balanced Fund?
Balanced KiwiSaver funds are suited for those who want to withdraw their KiwiSaver investment within the next 4 – 8 years, and will provide your KiwiSaver account with both a reasonable amount of protection from market declines, and a decent potential for generating returns. However, there is a lot more to consider when deciding on a KiwiSaver fund including:
– Is the KiwiSaver fund invested in an ethical manner?
– Does the KiwiSaver provider offer a mobile phone app?
– Is the KiwiSaver provider New Zealand owned?
– Is the KiwiSaver fund actively managed, or is it a passive investment?
If you want a recommendation on your KiwiSaver investment to make sure that you’re invested in a fund that is a top performer and aligns with your goals and values, please feel free to fill out our online fact find. This online fact find takes no more than 5 minutes to complete, and once submitted we will send you a free no-obligation KiwiSaver recommendation.
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Growth Funds – Best Performing
1. Milford Active Growth = 8.4%
2. Quaystreet Growth = 6.2%
3. Fisher Growth = 6.1%
4. Generate Growth = 6.0%
5. Simplicity Growth = 5.7%
The figures above display the average yearly return over 5 years for the corresponding funds. The average return across all Growth KiwiSaver funds for the most recent 5 years was 5.0%, therefore the Milford Active Growth Fund outperformed the market average by +3.4%
Milford Active Growth v Market Average – Growth
Milford Active Growth Fund Fees Compared to Market Average
Most KiwiSaver fees are calculated as a percentage of your total KiwiSaver balance. Some KiwiSaver providers also charge a fixed fee, however this is slowly being phased out and relatively small in comparison to the percentage fee. Please note that all performance figures stated above are net of any percentage fees.
Milford Active Growth Fund fees = 1.05%
Market Average for Growth Fund fees = 1.07%
About the Milford Active Growth Fund
The Milford Active Growth Fund is a diversified fund that primarily invests in equities, with a moderate allocation to fixed interest securities. The fund was started on the 1st of April 2010, and now has a total number of investors equalling 48,845.
The target asset allocation for the Milford Active Growth Fund is 78% growth assets, 22% income assets. For a detailed breakdown of the target asset allocation, please refer to the chart below.
For more information on the Milford Active Growth Fund, please find their most recent quarterly fund update.
Should you switch to the Milford Active Growth Fund?
Growth KiwiSaver funds are suited for those who want to withdraw their KiwiSaver investment within the next 6 – 10 years, and will provide your KiwiSaver account with a great potential for generating returns, while still giving a small amount of protection from market declines. However, there is a lot more to consider when deciding on a KiwiSaver fund including:
– Is the KiwiSaver fund invested in an ethical manner?
– Does the KiwiSaver provider offer a mobile phone app?
– Is the KiwiSaver provider New Zealand owned?
– Is the KiwiSaver fund actively managed, or is it a passive investment?
If you want a recommendation on your KiwiSaver investment to make sure that you’re invested in a fund that is a top performer and aligns with your goals and values, please feel free to fill out our online fact find. This online fact find takes no more than 5 minutes to complete, and once submitted we will send you a free no-obligation KiwiSaver recommendation.
Get Your KiwiSaver Recommendation
Aggressive Funds – Best Performing
1. Booster Socially Responsible High Growth = 7.3%
2. Booster High Growth = 6.2%
3. Generate Focused Growth = 5.9%
4. KiwiWealth Growth = 5.8%
5. MAS Aggressive = 5.5%
The figures above display the average yearly return over 5 years for the corresponding funds. The average return across all Aggressive KiwiSaver funds for the most recent 5 years was 5.4%, therefore the Booster Socially Responsible High Growth fund outperformed the market average by +1.9%
Booster Socially Responsible High Growth v Market Average – Aggressive
Booster Socially Responsible High Growth Fund Fees Compared to Market Average
Most KiwiSaver fees are calculated as a percentage of your total KiwiSaver balance. Some KiwiSaver providers also charge a fixed fee, however this is slowly being phased out and relatively small in comparison to the percentage fee. Please note that all performance figures stated above are net of any percentage fees.
Booster Socially Responsible High Growth fund fees = 1.33%
Market Average for Aggressive Fund fees = 1.20%
About the Booster Socially Responsible High Growth Fund
The Booster Socially Responsible High Growth fund invests predominantly in growth assets, with little or no income assets. It excludes investments which do not satisfy certain socially responsible investment criteria. It is suited to investors looking for an investment that reflects their personal values, who are comfortable with a high level of risk in order to potentially achieve higher returns. This fund has been certified by the Responsible Investment Association Australasia (RIAA). The fund was started on the 21st of May 2010, and now has a total number of investors equalling 14,518.
The target asset allocation for the Booster Socially Responsible High Growth Fund is 98% growth assets, 2% income assets. For a detailed breakdown of the target asset allocation, please refer to the chart below.
For more information on the Booster Socially Responsible High Growth Fund, please find their most recent quarterly fund update.
Should you switch to the Booster Socially Responsible High Growth Fund?
Aggressive KiwiSaver funds are suited for those who want to withdraw their KiwiSaver investment in at least 10 years, and will provide your KiwiSaver account with the best potential for generating returns, in exchange for relatively significant market volatility. However, there is a lot more to consider when deciding on a KiwiSaver fund including:
– Is the KiwiSaver fund invested in an ethical manner?
– Does the KiwiSaver provider offer a mobile phone app?
– Is the KiwiSaver provider New Zealand owned?
– Is the KiwiSaver fund actively managed, or is it a passive investment?
If you want a recommendation on your KiwiSaver investment to make sure that you’re invested in a fund that is a top performer and aligns with your goals and values, please feel free to fill out our online fact find. This online fact find takes no more than 5 minutes to complete, and once submitted we will send you a free no-obligation KiwiSaver recommendation.