2024’s Best Performing KiwiSaver Funds Ranked
June 2024 Update
In the second quarter of 2024, KiwiSaver investments demonstrated strong performance amidst a backdrop of economic challenges. While stock markets experienced some volatility, investments in bonds and other stable assets provided a stabilizing effect. Participation in KiwiSaver continues to grow, with more individuals contributing more to their accounts, reflecting continued confidence in these retirement savings plans. Additionally, there is an increasing trend towards sustainable and ethical investment options within KiwiSaver.
Key Takeaways
KiwiSaver assets increased, ending the quarter at NZD $110.8b, up around $3.5b for the quarter. This follows a $4b increase in the first quarter of the year;
Average multisector category returns for the June quarter ranged between 0.3–0.8% indicating incremental gains for most funds.
Over the last 10 years, the aggressive category average has given investors an annualised return of 9.1%, followed by growth (8.2%), balanced (6.7%), moderate (4.7%), and conservative (4.3%).
To help New Zealand investors assess the past performance of the funds available and other key characteristics of their KiwiSaver superannuation option, we collated data from the Morningstar KiwiSaver Survey 30 June 2024 the most recent survey conducted and ranked them on performance.
Note that all funds have been ranked on their most recent 5 year average yearly performances as at 30 June 2024, after fees.
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KiwiSaver Experts: With over a decade of focused experience in KiwiSaver, we have become specialists in this field. Advising on over $100 million in funds, we understand the providers, the funds, the assets, and all the intricate details needed to make the best recommendations for you.
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If you would like to make sure you are invested in an appropriate KiwiSaver strategy please complete our KiwiSaver Discovery Quiz.
Contents:
Conservative fund category top performers
Fisher Funds Plan Default Conservative: 3.5% (five year average return)
Quay Street Conservative: 3.5% (five year average return)
Milford Conservative: 3.2% (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 2.5%*.
Best KiwiSaver Funds - Fisher Funds Plan Default 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 = 0.60%
Fisher Funds Plan Defensive Conservative Fund fees = 0.52%
Fisher Funds Plan Default Conservative Fund Description
The Fisher Funds Plan Default Conservative Fund aims to provide stable returns over the long term by investing mainly in income assets with a small allocation to growth assets
The Fisher Funds Plan Default Conservative Fund description was obtained directly from Fisher Funds most recent Fund Fact sheet, as at June 2024.
Fisher Funds Plan Default Conservative Fund Asset Allocation
To find Fisher Funds actual asset allocation percentages for their Plan Default Conservative Fund as at June 2024, hover over each of the graphs elements.
Thinking about the Fisher Funds Default Conservative Fund?
The Default 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 (Formerly known as Conservative Fund): 4.3% (five year average return)
BNZ Moderate Fund: 3.7% (five year average return)
MAS Moderate: 3.6% (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 3.0%.
Best KiwiSaver Funds - Generate Moderate Vs Moderate Fund Average
What are the fees compared to industry average?
Industry Average for Moderate Funds fees = 0.79%
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.
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 June 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: 7.4% (five year average return)
Milford Balanced: 7.1% (five year average return)
QuayStreet Socially Responsible: 6.9% (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 5.3%*.
Best KiwiSaver Funds - QuayStreet Balanced Vs Balanced Fund Average
What are the fees compared to industry average?
Industry Average for Balanced Funds fees = 0.72%
QuayStreet Balanced Fund fees = 1.02%
QuayStreet Balanced Fund Description
The QuayStreet Balanced Fund description was obtained directly from Quaystreet’s monthly Fund 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 Balanced Fund Asset Allocation
To find QuayStreet’s actual asset allocation percentages for their Balanced Fund as at 30 June 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
Milford Active Growth: 9.3% (five year average return)
QuayStreet Growth: 9.0% (five year average return)
Simplicity Growth Fund: 7.8% (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 6.7%*.
Best KiwiSaver Funds - Milford Active Growth Vs Growth Fund Average
What are the fees compared to industry average?
Industry Average for Growth Funds fees = 0.96%
Milford Active Growth Fund Fees
Base fee = 1.20%
Performance fee = 0.15% (only charged where the fund return outperforms its benchmark)
Milford Active Growth Fund Description
The Milford Active Growth Fund description was obtained directly from Milford's latest Fund Fact Sheet.
The fund aims to provide annual returns of 10% over at least 7 years, and is a medium to high risk investment. It provides a diversified exposure to primarily equities and moderate allocation to fixed interest securities.
Milford Active Growth Fund Asset Allocation
To find Milford’s actual asset allocation percentages for their Growth Fund as of 31 July 2024, hover over each of the elements of the graph.
Thinking about the Milford Active Growth Fund?
The Milford Active 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
Booster Socially Responsible High Growth Fund: 10.0% (five year average return)
Fisher TWO Scheme-Eq: 9.6% (five year average return)
Generate Focused Growth: 8.5% (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 7.8%*.
Best KiwiSaver Funds - Booster Socially Responsible High Growth Vs Aggressive Fund Average
What are the fees compared to industry average?
Industry Average for Aggressive Funds fees = 0.99%
Booster Socially Responsible High Growth Fund fees = 1.31%
Booster Socially Responsible High Growth Fund Description
The Booster Socially Responsible High Growth description was obtained directly from the funds quarterly update.
The Socially Responsible High Growth Fund is suited to investors who seek potentially higher returns on average over long term periods (ten years plus), allowing for short to medium term ups and downs, whilst excluding investments which do not satisfy certain socially responsible investment criteria. We aim to achieve this by investing predominantly in growth assets, with little or no allocation to income assets, and the application of our Responsible Investment Policy.
Booster Socially Responsible High Growth Fund Asset Allocation
To find this fund’s actual asset allocation percentages as of 30 June 2024, hover over each of the graphs elements.
Thinking about the Booster Socially Responsible High Growth Fund?
The Booster Socially Responsible High Growth 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.