What’s the best performing KiwiSaver Fund? March 2024 Update
March marked the end of the first quarter of 2024, and investors have had a positive journey so far this year. We’ve seen a continuation of the markets and portfolios’ strong performance from 2023. One of the drivers behind this performance has been the underlying strength of the global economy. However, unlike in 2023, where we saw global share markets being driven by a select few large technology companies, we have seen a broadening of global market returns recently (that is, a broader number of sectors contributing to market returns).
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 31 March, 2024 - the most recent survey conducted and ranked them on performance.
KiwiSaver assets on the Morningstar database increased during the March quarter to 108.6 billion. ANZ leads the market share with more than NZD 20.4 billion. Fisher is in second position, with a market share of 15.4%. Milford is sandwiched in between ASB and AMP in fourth. The five largest KiwiSaver providers account for approximately 68% of assets in the KiwiSaver universe and generate around 69% of the fees.
Note that all funds have been ranked on their most recent 5 year average yearly performances as at 31 March 2024, after fees before tax.
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Contents:
Conservative fund category top performers
Fisher Funds Plan Default Conservative: 3.9% (five year average return)
Quay Street Conservative: 3.8% (five year average return)
Milford Conservative Fund: 3.7% (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 2.9%*.
Best KiwiSaver Funds - Fisher Funds Plan Default Conservative Fund 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 = 0.58%
Fisher Funds Plan Default Fund fees = 0.52%
Fisher Funds Plan Default Conservative Fund Description
The Fisher Funds Plan Default Conservative description was obtained directly from Fisher Funds most recent funds fact sheet as at 31 March, 2024.
The Fund’s objective is to provide stable returns over the long term by investing mainly in income assets with a small allocation to growth assets. It 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.
Fisher Funds Plan Default Conservative Fund Asset Allocation
To find Fisher Funds Plan target asset allocation percentages for their Default Conservative Fund as at 31 March, 2024, hover over each of the graphs elements.
Thinking about the Fisher Funds Plan Default Conservative Fund?
The Fisher Funds Plan Default Conservative 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 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): 4.9% (five year average return)
MAS Moderate: 4.2% (five year average return)
BNZ Moderate Fund: 4.1% (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 3.5%.
Best KiwiSaver Funds - Generate Moderate Vs Moderate Fund Average
What are the fees compared to industry average?
Industry Average for Moderate Funds fees = 0.78%
Generate Moderate 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 31 March 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
Milford Balanced: 8.1% (five year average return)
QuayStreet Balanced : 7.9% (five year average return)
QuayStreet Socially Responsible Balanced: 7.4% (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 6.0%*.
Best KiwiSaver Funds - Milford Balanced Vs Balanced Fund Average
What are the fees compared to industry average?
Industry Average for Balanced Funds fees = 0.75%
Milford Balanced Fund fees = 1.05%
Milford Balanced Fund Description
The Milford Balanced Fund description was obtained directly from Milford’s latest fund fact sheet as of 30 April 2024.
The Fund’s objective is to provide capital growth after the base fund fee but before tax and before the performance fee, over the minimum recommended investment timeframe of five years. It is a diversified fund that primarily invests in equities, with a significant allocation to fixed interest securities.
Milford Balanced Fund Asset Allocation
To find Milford’s actual asset allocation percentages for their Balanced Fund as at 31 January 2024, hover over each of the graphs elements.
Thinking about the Milford Balanced Fund?
The Milford 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: 10.6% (five year average return)
QuayStreet Growth: 9.7% (five year average return)
Pie Growth: 8.8% (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 7.6%*.
Best KiwiSaver Funds - Milford Active Growth Vs Growth Fund Average
What are the fees compared to industry average?
Industry Average for Growth Funds fees = 0.94%
Milford Active Growth Fund Fees
Base fee = 1.05%
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 30 April 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: 10.9% (five year average return)
Generate Focused Growth: 9.5% (five year average return)
Fisher Funds Plan Growth: 9.1% (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 8.5%*.
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 = 0.94%
Booster Socially Responsible High Growth Fund fees = 1.17%
Booster Socially Responsible High Growth Fund Description
The Booster Socially Responsible High Growth description was obtained directly from the funds latest monthly fact sheet.
The Socially Responsible High Growth Fund aims to achieve a rate of return (net of fees but before tax) of at least 4.5% per annum above inflation over any ten year period. The fund invests predominantly in growth assets, with little or no income assets.
Booster Socially Responsible High Growth Fund Asset Allocation
To find this fund’s actual asset allocation percentages as of 31 March 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 returns 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 free no-obligation KiwiSaver recommendation.
Compound Wealth is a KiwiSaver, Retirement and Private Wealth Financial Advice Firm based in Mount Maunganui, Bay of Plenty with clients all over New Zealand.