The results are in and we’ve now got definitive answers for the top performing KiwiSaver funds heading into the 2024 calendar year, with KiwiSaver funds generally rebounding in 2023 from a rough 2022. Take a look at the standings across major fund categories and see whether your current KiwiSaver fund ranks as a top performer.
It’s been a year of recovery for the most part in 2023, with total funds invested in the KiwiSaver scheme now over $96 billion by the end of September. Funds under management have increased by over 14% since 30th September 2022.
We can categorise 2023 as a year when KiwiSaver has for the most part ‘held firm’, and contributions have proved just as important as investment returns given the continued uncertain nature of markets. But early We have ranked the funds on their average performance over the past 5 years as of 30th September 2023. Note that all performance is after fees, but before tax.
Conservative Funds – Best Performing
1. Quaystreet Income = 3.2%
2. Milford Conservative = 2.8%
3. Quaystreet Conservative = 2.7%
4. KiwiWealth Default Conservative = 2.5%
5. Fisher TWO Cash Enhanced = 2.3%
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 1.9%, therefore the Quaystreet Income fund outperformed the market average by +1.3%
Quaystreet Income 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.
Quaystreet Income Fund fees = 0.77%
Market Average for Conservative Fund fees = 0.60%
About the Quaystreet Income Fund
The QuayStreet Income Fund will invest in a diversified portfolio with an emphasis on income producing assets such as New Zealand and International fixed interest investments and derivatives. The fund may include an allocation to growth assets. The investment objective is to provide a level of return above the fund’s benchmark over the long term.
The fund was started on the 30th September 2014.
The target asset allocation for the Quaystreet Income fund is 20% growth assets, 80% income assets. For a detailed breakdown of the actual investment mix and the target investment mix as at 30th June 2023, please refer to the chart below.
For more information on the Quaystreet Income fund, please find their most recent quarterly fund update.
Should you switch to the Quaystreet Income 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 to make sure that you’re not only invested in a top performing KiwiSaver fund, but one that 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.
Moderate Funds – Best Performing
1. Generate Moderate = 3.5%
2. Superlife Conservative = 2.5%
3. BNZ Moderate = 2.5%
4. MAS Moderate = 2.5%
5. ANZ Conservative Balanced = 2.5%
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 2.2%, therefore the Generate Moderate fund outperformed the market average by +1.3%.
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 Moderate Fund fees = 1.14%
Market Average for Moderate Fund fees = 0.81%
About the Generate Moderate Fund
The Generate Moderate Fund is a diversified fund that aims to provide a moderate investment return over the short to medium term. It invests in an actively managed portfolio made up of slightly less growth assets than income assets. The fund has a medium to high level of volatility. The fund started on the 16th of April 2013, and now has a total number of investors equalling 22,426.
The target asset allocation for the Generate Moderate Fund is 40% growth assets, 60% income assets. For a detailed breakdown of the actual investment and target investment mix as at 30th September 2023, please refer to the chart below.
For more information on the Generate Moderate Fund, please find their most recent quarterly fund update.
Should you switch to the Generate Moderate Fund?
Moderate KiwiSaver funds are suited for those who want to withdraw their KiwiSaver investment within the next 3 – 4 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 to make sure that you’re not only invested in a top performing KiwiSaver fund, but one that 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.
Balanced Funds – Best Performing
1. Milford Balanced = 6.1%
2. Quaystreet Balanced = 5.2%
3. SuperLife Ethical = 4.9%
4. QuayStreet Socially Rspnb Inv = 4.4%
5. Booster SRI Balanced = 4.2%
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 3.7%, therefore the Milford Balanced Fund outperformed the market average by +2.4%.
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 = 1.06%
Market Average for Balanced Fund fees = 0.76%
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 20,598.
The target asset allocation for the Milford Balanced Fund is 61% growth assets, 39% income assets. For a detailed breakdown of the actual investment and target investment mix as at 30th September 2023, 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 – 7 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 to make sure that you’re not only invested in a top performing KiwiSaver fund, but one that 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.
Growth Funds – Best Performing
1. Milford Active Growth = 7.5%
2. Quaystreet Growth = 6.1%
3. Simplicity Growth = 5.6%
4. Fisher TWO Growth = 5.5%
5. Generate Growth = 5.5%
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 4.8%, therefore the Milford Active Growth Fund outperformed the market average by +2.7%
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 = 1.20%
Market Average for Growth Fund fees = 0.93%
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 59,053.
The target asset allocation for the Milford Active Growth Fund is 78% growth assets, 22% income assets. For a detailed breakdown of the actual investment and target investment mix as at 30th September 2023, 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 7 – 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 to make sure that you’re not only invested in a top performing KiwiSaver fund, but one that 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.
Aggressive Funds – Best Performing
1. Booster Socially Responsible High Growth = 7.0%
2. Booster High Growth = 5.9%
3. Generate Focused Growth = 5.6%
4. KiwiWealth Growth = 5.5%
5. Booster Shielded Growth = 5.2%
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 5.1%, therefore the Booster Socially Responsible High Growth fund outperformed the market average by +1.9%
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 = 1.17%
Market Average for Aggressive Fund fees = 1.02%
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 15,990.
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 to make sure that you’re not only invested in a top performing KiwiSaver fund, but one that 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.