Best Performing KiwiSaver Funds going into 2025
KiwiSaver Update
KiwiSaver investments continued to grow heading into 2025, with total assets reaching NZD 121.9 billion—a $24 billion increase over the year.
Key Highlights
Strong Investment Performance:
Over the past year, KiwiSaver funds on average delivered solid returns:
Aggressive funds: 19.1%
Growth funds: 15.0%
Balanced funds: 13.0%
Moderate funds: 8.7%
Conservative funds: 7.4%
The Power of Long-Term Investing:
Over the past 10 years, aggressive funds have averaged 9.3% annually, demonstrating the long-term benefits of a higher equity allocation.
For investors with a long investment timeframe, time is your greatest asset. Higher equity exposure can lead to significant growth, as shares tend to outperform bonds and cash over time. While equities can be more volatile in the short term, a long investment horizon allows investors to ride out market fluctuations and maximise returns.
Learn More: The Importance of a Higher Equity Allocation
Sustainable Investing Matters:
Morningstar’s Global Sustainability Ratings highlight KiwiSaver funds excelling in ESG (Environmental, Social, and Governance) criteria, allowing investors to align their portfolios with their values.
Compare Your KiwiSaver Fund:
We’ve compiled data from the Morningstar KiwiSaver Survey (as of 31 Dec 2024), ranking funds based on their five-year average annual returns (after fees) to help investors make informed decisions.
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Contents
Conservative fund category top performers
Pathfinder Conservative: 4.4% (five year average return)
Quay Street Conservative: 4.2% (five year average return)
Fisher Funds Plan Default Conservative: 3.9% (five year average return)
What difference would this make to my KiwiSaver?
The industry average return for Conservative fund types over the most recent 5 years was 3.1%*.
Best KiwiSaver Funds - Pathfinder Conservative vs Conservative Fund Average
What are the fees compared to industry average?
KiwiSaver fees are typically calculated as a % of your total balance. The majority of KiwiSaver funds also charge a fixed admin fee, however this is relatively small and consistent across varying KiwiSaver schemes. Please note that all returns stated are net of fees (returns after fees, before tax).
Industry Average for Conservative Funds fees = 0.62%
Pathfinder Conservative Fund fees = 0.94%
Pathfinder Conservative Fund Description
The Pathfinder Conservative Fund is an ethical portfolio with a higher exposure to income assets and a lower exposure to growth assets.
This Fund’s value is unlikely to fluctuate as much as the Pathfinder KiwiSaver Balanced Fund or Pathfinder KiwiSaver Growth Fund.
The Pathfinder Conservative Fund Fund description was obtained directly from Pathfinder’s most recent Fund Fact sheet, as at September 2024. Pathfinder has yet to release their December 2024 Fund Fact sheets, this will be updated when those become available.
Pathfinder Conservative Fund Asset Allocation
To find Pathfinder’s actual asset allocation percentages for their Conservative Fund as at September 2024, hover over each of the graphs elements.
Thinking about the Pathfinder Conservative Fund?
The Pathfinder Conservative fund is generally suitable for a short term or naturally cautious investor who is nearing retirement or intends on making a withdrawal in the short term. It also suits an investor who values lower volatility of returns over achieving potential higher returns. Do note that past performance is no guarantee of future performance, further there are several other factors to consider when deciding on a KiwiSaver fund that is right for you including:
Responsible Investing Considerations
Process and portfolio composition
Organisational Stability
Fees
Customer service
If you want to know if your KiwiSaver fund is both being maximised and suitable for your personal situation, follow the link below to our KiwiSaver advice page. The page contains a link to our KiwiSaver Discovery Quiz that takes approximately 5 minutes to complete, and once you have finished we will provide you with a complimentary no-obligation KiwiSaver recommendation.
Moderate fund category top performers
Generate Moderate Fund: 4.7% (five year average return)
BNZ Moderate Fund: 4.1% (five year average return)
MAS Moderate: 4.0% (five year average return)
What difference would this make to my KiwiSaver?
The industry average return for Moderate fund types over the most recent 5 years was 3.4%.
Best KiwiSaver Funds - Generate Moderate Vs Moderate Fund Average
What are the fees compared to industry average?
Industry Average for Moderate Funds fees = 0.81%
Generate Conservative Fund fees = 1.14%
Generate Moderate Fund Description
The Generate KiwiSaver Moderate Fund description was obtained directly from Generate’s most recent quarterly update. Generate has yet to release their December 2024 Fund Fact sheets, this will be updated when those become available.
The Moderate Fund aims to provide a modest to medium return over the short to medium term. It invests in an actively managed portfolio made up of slightly more income assets than growth assets. Volatility is likely to be medium to high. Returns will vary and may be low or negative at times.
Generate Moderate Fund Asset Allocation
To find Generate’s Moderate actual asset allocation percentages for their Moderate Fund as at 30 September 2024, hover over each of the elements of the graph.
Thinking about the Generate KiwiSaver Moderate Fund?
The Generate Moderate Fund is suitable for investors who have a minimum recommended investment timeframe of 3 years before planning on withdrawing. Do note that past performance is no guarantee of future performance, further there are several other factors to consider when deciding on a KiwiSaver fund that is right for you including:
Responsible Investing Considerations
Process and portfolio composition
Organisational Stability
Fees
Customer service
If you want to know if your KiwiSaver fund is both being maximised and suitable for your personal situation, follow the link below to our KiwiSaver advice page. The page contains a link to our Discovery Quiz that takes approximately 5 minutes to complete, and once you have finished we will provide you with a complimentary no-obligation KiwiSaver recommendation.
Balanced fund category top performers
QuayStreet Balanced: 8.2% (five year average return)
QuayStreet Socially Responsible Inv : 8.1% (five year average return)
Milford Balanced: 7.8% (five year average return)
What difference would this make to my KiwiSaver?
The industry average return for Balanced fund types over the most recent 5 years was 5.7%*.
Best KiwiSaver Funds - QuayStreet Balanced Fund Vs Balanced Fund Average
What are the fees compared to industry average?
Industry Average for Balanced Funds fees = 0.73%
QuayStreet Balanced fees = 1.03%
QuayStreet Balanced Fund Description
The QuayStreet Balanced Fund description was obtained directly from the QuayStreet Balanced Fact Sheet.
The QuayStreet Balanced Fund invests in a diversified portfolio with a balance between fixed interest and growth assets. The investment objective is to provide a level of return above the Fund’s benchmark over the long term. Investment returns may vary considerably from year to year and may be negative.
QuayStreet’s Balanced Fund Asset Allocation
To find QuayStreet’s actual asset allocation percentages for their Balanced Fund as at 31 December 2024, hover over each of the graphs elements.
Thinking about the QuayStreet Balanced Fund?
The QuayStreet Balanced Fund is suitable for investors who have a minimum recommended investment timeframe of 5 years before planning on withdrawing. Do note that past performance is no guarantee of future performance, further there are several other factors to consider when deciding on a KiwiSaver fund that is right for you including:
Responsible Investing Considerations
Process and portfolio composition
Organisational Stability
Fees
Customer service
If you want to know if your KiwiSaver fund is both being maximised and suitable for your personal situation, follow the link below to our KiwiSaver advice page. The page contains a link to our fact find that only takes 5 minutes to complete, and once you have finished we will provide you with a free no-obligation KiwiSaver recommendation.
Growth FUND CATEGORY TOP PERFORMERS
Pathfinder Growth: 10.0% (five year average return)
QuayStreet Growth: 9.9% (five year average return)
Milford Active Growth: 9.3% (five year average return)
What difference would this make to my KiwiSaver?
The industry average return for Growth fund types over the most recent 5 years was 7.1%*.
Best KiwiSaver Funds - Pathfinder Growth Vs Growth Fund Average
What are the fees compared to industry average?
Industry Average for Growth Funds fees = 0.95%
Pathfinder Growth Fund Fees = 1.30%
Pathfinder Growth Fund Description
The Pathfinder Growth Fund description was obtained directly from Pathfinder’s latest Fund Fact Sheet. Pathfinder has yet to release their December 2024 Fund Fact sheets, this will be updated when those become available.
The Fund is an ethical portfolio with a higher exposure to growth assets and a lower exposure to income assets. This Fund’s value is likely to fluctuate more than the Pathfinder KiwiSaver Balanced Fund or Pathfinder KiwiSaver Conservative Fund.
Pathfinder Growth Fund Asset Allocation
To find Pathfinder’s actual asset allocation percentages for their Growth Fund as of 30 September 2024, hover over each of the elements of the graph.
Thinking about the Pathfinder Growth Fund?
The Pathfinder Growth Fund is suitable for investors with a minimum recommended investment timeframe of 7 years before planning on withdrawing. Do note that past performance is no guarantee of future performance, further there are several other factors to consider when deciding on a KiwiSaver fund that is right for you including:
Responsible Investing Considerations
Process and portfolio composition
Organisational Stability
Fees
Customer service
If you want to know if your KiwiSaver fund is both being maximised and suitable for your personal situation, follow the link below to our KiwiSaver advice page. The page contains a link to our KiwiSaver Discovery Quiz that takes approximately 5 minutes to complete, and once you have finished we will provide you with a complimentary no-obligation KiwiSaver recommendation.
aggressive FUND CATEGORY TOP PERFORMERS
Milford Aggressive Fund: 11.1% (five year average return)
Booster Socially Responsible High Growth Fund: 10.0% (five year average return)
Fisher TWO Scheme-Eq: 9.7% (five year average return)
What difference would this make to my KiwiSaver?
The industry average return for Aggressive fund types over the most recent 5 years was 8.4%*.
Best KiwiSaver Funds - Milford Aggressive Vs Aggressive Fund Average
What are the fees compared to industry average?
Industry Average for Aggressive Funds fees = 0.98%
Milford Aggressive Fund fees = 1.15%
Milford Aggressive Fund Description
The Milford Aggressive Fund description was obtained directly from the funds monthly fact sheet update here.
The Milford Aggressive Fund aims to maximise capital growth over the minimum recommended investment timeframe. It primarily invests in international equities, with a moderate allocation to Australasian equities
Milford Aggressive Fund Asset Allocation
To find this fund’s actual asset allocation percentages as of 31 December 2024, hover over each of the graphs elements.
Thinking about the Milford Aggressive Fund?
The Milford Aggressive Fund is suitable for investors who have a minimum suggested investment timeframe of at least 10 years before planning on withdrawing. Do note that past performance is no guarantee of future performance, further there are several other factors to consider when deciding on a KiwiSaver fund that is right for you including:
Responsible Investing Considerations
Process and portfolio composition
Organisational Stability
Fees
Customer service
*Please note that all graphs depicting projections use a $10,000 starting balance, with compounding interest at the rates stated. They exclude any further contributions (such as your employee, employer or Government contributions).
If you want to know if your KiwiSaver fund is both being maximised and suitable for your personal situation, follow the link below to our KiwiSaver advice page. The page contains a link to our fact find that only takes 5 minutes to complete, and once you have finished we will provide you with a complimentary no-obligation KiwiSaver recommendation.
Compound Wealth are based in Mount Maunganui, Tauranga and offer KiwiSaver, Investment & Retirement Financial Advice to clients all over New Zealand.