Using the most recent returns and fund update reports from the Quarter Ended June 2022, we will examine KiwiWealth’s recent KiwiSaver Performance.
KiwiWealth KiwiSaver Scheme is the 5th largest KiwiSaver scheme in New Zealand, with approximately $7 billion in funds under management. They actively manage their investment funds and adopt a responsible investing approach to their investments. This includes identifying opportunities and voting for positive change on ESG issues through investment selection. KiwiWealth is undergoing a transitional period because of the recent change in ownership as the acquiring company, Fisher Funds, aims to identify new opportunities to grow the value of the combined businesses, which can be read in the news below.
Morningstar investment research firm has presented a recent survey which indicates that the overall value of KiwiSaver assets fell to NZ$82.8b in the three months ended June, down from NZ$87.7b in the previous quarter. This is because the cost of living in New Zealand significantly increasing due to the negative impacts of Covid-19 and the Russian invasion of Ukraine. Therefore, these societal and economic pressures have made it difficult for markets to perform, which can be seen in the returns for this quarter.
Table of Contents
News about KiwiWealth
Performance of KiwiWealth KiwiSaver Funds
KiwiWealth Cash Fund
KiwiWealth Conservative Fund
KiwiWealth Balanced Fund
KiwiWealth Growth Fund
News about KiwiWealth
On August 15, Kiwi Group Holdings Limited (KGHL) announced the sale of KiwiWealth to Fisher Funds for NZ$310 million. Kiwi Wealth's more than 270,000 members will be gaining access to Fisher Funds and are now the second-largest KiwiSaver provider in the country, managing up to $14 billion in funds.
Kiwi Wealth KiwiSaver customers will be integrated into Fisher Funds over the coming months, and Kiwibank will refer KiwiSaver customers to Fisher Funds via a strategic partnership. Fisher Funds is majority owned by the investment arm of Toi Foundation, a Taranaki-based philanthropic trust known as the TSB Community Trust before rebranding last year.
Performance of KiwiWealth KiwiSaver Funds
|
1 Month |
3 Month |
1 Year |
3 Year |
5 Year |
Since Inception |
|
|
Cash |
0.24% |
0.56% |
1.16% |
1.12% |
1.73% |
2.55% |
|
Conservative |
-2.29% |
-0.68% |
-8.63% |
1.05% |
2.93% |
4.66% |
|
Balanced |
-2.52% |
-1.01% |
-9.57% |
3.97% |
5.24% |
5.77% |
|
Growth |
-2.72% |
-1.41% |
-10.41% |
6.37% |
7.15% |
6.24% |
Sourced from KiwiWealth fund performance report.
* These returns are to 31 August 2022 and are before tax and after fund management fees. Past performance is not necessarily an indicator of future performance, and return periods may differ.
Note: The following information is sourced from KiwiWealth Quarterly Fund updates published on 30 June 2022.
KiwiWealth Cash Fund
The Cash Fund is invested 100% in cash assets to exceed the returns you would receive from investing 100% of your funds in New Zealand cash through the active selection of cash assets. The fund has had a 1-year return of 1.16% and 5-year return of 1.73%.
*The following is Sourced from KiwiWealth Cash Fund Update.
Returns
Fees
The total annual fees for investors in the KiwiWealth Cash Fund are 0.49% per year.
Investment mix
The investment mix is 100% cash and cash equivalents due to being a Cash Fund.
Top ten investments
This table shows KiwiWealth’s top 10 investments in the Cash KiwiSaver Fund, which make up 39.82% of the fund.
KiwiWealth Conservative Fund
The Conservative Fund is invested up to 35% in shares and other growth assets, with the remaining proportion allocated to cash and fixed interest assets. The fund has had a 1-year return of -8.63% and a 5-year return of 2.93%.
*The following is Sourced from KiwiWealth Conservative Fund Update.
Returns
Fees
The total annual fees for investors in the KiwiWealth Conservative Fund are 0.89% per year.
Investment mix
The investment mix shows the type of assets that the fund invests in.
Top ten investments
This table shows KiwiWealth’s top 10 investments in the Conservative KiwiSaver Fund, which comprise 18.84% of the fund.
KiwiWealth Balanced Fund
The Balanced Fund is invested up to 70% in shares and growth assets, with the remaining proportion allocated to cash and fixed interest assets. The fund has had a 1-year return of -9.57% and a 5-year return of 5.24%.
*The following is Sourced from KiwiWealth Balanced Fund Update.
Returns
Fees
The total annual fees for investors in the KiwiWealth Balanced Fund are 1.04% per year.
Investment mix
The investment mix shows the type of assets that the fund invests in.
Top ten investments
This table shows KiwiWealth’s top 10 investments in the Balanced KiwiSaver Fund, which comprise 14.90% of the fund.
KiwiWealth Growth Fund
The Growth Fund is invested up to 90% in shares and other growth assets, with the remaining proportion allocated to cash and fixed interest assets. The fund has had a 1-year return of -10.41% and a 5-year return of 7.15%.
*The following is Sourced from KiwiWealth Growth Fund Update.
Returns
Fees
The total annual fees for investors in the KiwiWealth Growth Fund are 1.12% per year.
Investment mix
The investment mix shows the type of assets that the fund invests in.
Top ten investments
This table shows KiwiWealth’s top 10 investments in the Growth KiwiSaver Fund, which comprise 19.79% of the fund.
Data for KiwiWealth KiwiSaver funds have been sourced from KiwiWealth KiwiSaver Funds. Past performance is not necessarily an indicator of future performance, and return periods may differ.
To see if KiwiWealth has the appropriate fund that aligns with your values, retirement goals and situation, complete National Capital’s KiwiSaver Healthcheck.
