KiwiSaver providers with more money invested in the New
Zealand share market beat the pack last quarter, according to
The fund research firm has released latest performance
numbers for the three months to March 31 across the sector,
which is now worth over $18.75 billion.
Performance across the sectors ranged between 1.12 per cent
and 1.54 per cent with balanced funds - those with a mix of
investments in shares and fixed interest - having the
strongest average returns for the period.
Chris Douglas, Morningstar co-head of fund research said
there were stronger differences between the asset classes in
the last quarter showing the importance of having a
"The Kiwi sharemarket notched up a healthy 8.52 per cent
gain, while international shares was down 3.95 per cent.
"This was a significant turnaround on 2013, and a timely
reminder of the value of a diversified portfolio."
The NZX-run Smartshares scheme was the best performer in the
conservative and balanced categories.
While the Fisher Funds TWO scheme was top in Morningstar's
aggressive growth category.
Mercer and Milford headed up the league tables in the growth
and moderate categories respectively.
But Douglas said long-term performance was more important.
Over three and five years Aon KiwiSaver Russell and Mercer
KiwiSaver have been the top-performing fund managers across
Fisher Fund's Growth Fund has been the top performer in the
aggressive category over five years and Milford has been the
top performer in the balanced category since inception in
Despite this the biggest players remain the banks.
ASB and ANZ-owned OnePath have combined 46.6 per cent of
KiwiSaver assets between them.
- By Tamsyn Parker of the New Zealand Herald