Why KiwiSaver members are $10b richer, as top fund returns 98% in a year
Morningstar's latest KiwiSaver survey shows quarterly returns ranged from an average 3.3% for conservative funds to 11.9% for the aggressive category. In total, members' assets grew by $10 billion over the year.
Total assets held by members of New Zealand's KiwiSaver retirement savings scheme grew by $10 billion over the past year, according to Morningstar's latest survey, which found returns varied sharply by fund category.
Quarterly returns averaged 3.3% for conservative funds, compared with 11.9% for the aggressive category. The single best-performing fund stood out with a return of up to 98% over the year.
Experts say the strong performance is largely attributable to a rebound in global equity markets. Analysts caution, however, that the volatility risk carried by higher-return aggressive funds should not be overlooked.
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