Performance Report Data Explanations

 

Last 5 years average returns
This figure displays the 5-year average return of the fund, after fees and taxes. It is calculated by taking every year’s returns for the past five years and averaging them out into a single number.

Last 5 years average returns - Category Average
This figure displays the average 5-year return of all the funds in the asset allocation category that the fund is designated in. Data is sourced from the Morningstar KiwiSaver Survey.

Annual fund fees
There are a few elements that make up the total fees for investing in the fund. The total fees include:

  • Managers Fee: A management fee is a charge levied by an investment manager for managing an investment fund. The management fee is intended to compensate the managers for their time and expertise for selecting stocks and managing the portfolio.
  • Performance-Based Fees: These are fees charged on top of management fees and other expenses when a fund has outperformed a pre-specified benchmark.
  • Other Fees and Costs: These fees can include costs associated with the underlying funds the manager invests in, financial advisory fees, and other third-party fees that are not directly associated with managing the fund.
  • Base fee (fixed): This is the membership fee incurred in using these managers as a service, typically charged on an annual basis.

The fees used in the calculation for the data shown on the webpage include the manager’s fee, the performance-based fees, and the other fees. The Base/Membership Fee is not included here.

Annual fund fees - Category Average
This figure displays the average fund fees of all the funds in the asset allocation category that the fund is designated in. Data is sourced from the Morningstar KiwiSaver Survey.

Services Rating
This data is sourced from the Sorted Website (sorted.org.nz). The overall service rating can be broken down into:

    • Help with investment options: meaning assistance with online forms, tools, calculators, and information on your KiwiSaver account.
  • Communication with members: this category is associated with how well the communication is between the investor and the manager. Quality of information and the availability of options for communication are factored into this rating.
  • Other Services: this includes all the other potentially helpful services the provider has to offer.

The ratings in each of those categories are then averaged to come up with the overall Services Rating data displayed on the performance report page.

Social Good Score
This data is sourced from the BetterSaver website (https://bettersaver.co.nz/social-good). They have five factors that are weighted differently and are aggregated into an overall social good score. These five factors are:

    • The Fund Manager (16%)- Does the fund manager incorporate environmental, social and governance (ESG) factors into their decision-making process, and is it transparent about where it invests your money?
    • Exclusions (24%)- What does the fund avoid investing in?
    • Inclusions (24%)- What does the fund seek to invest in?
    • Engagement (24%)- To what extent does the fund manager engage with the companies and other entities it invests in, to encourage better practice?
    • Membership and Research (12%)-Does the fund manager belongs to the Responsible Investment Association Australasia (RIAA) and the UN Principles for Responsible Investment (UNPRI)? Does the fund subscribe to specialist ethical investment research?

Asset Allocation
These figures display the distribution of investments in a fund. Growth Assets include commodities, equity shares, and listed & unlisted property. Income Assets include all fixed-income assets. This data is not calculated by National Capital but is sourced from the FMA Disclose Register.

Total Value of Fund
This figure displays the total value of the fund and is rounded up or down to the nearest million. For funds that have less than $NZ 10 Million total value, the number is rounded to the nearest $10,000 (i.e. $NZ 7.65 Million)

KiwiSaver Balance Today
This figure displays the amount of money in $NZ you will have if you had invested $20,000 five years ago into the fund listed. This is calculated with a future value formula using the average after taxes and after fees return of the fund over a period of five years.

FundSource Rating
This data is sourced from the FundSource website. The Star Ratings in FundSource's performance tables are based on FundSource's quantitative assessment of the funds. 

The ratings are intended to provide a historical risk-adjusted performance measure which should be used for illustrative purposes only. The ratings are purely quantitative and they do not portray the fund's future performance potential.

Here’s a link to the FundSource FAQ section, where their methodology is explained in-depth: https://www.fundsource.co.nz/investing-in-managed-funds/frequently-asked-questions/


Important: The performance report does not contain financial advice, only information. Past performance is not necessarily indicative of future performance. If you want personal financial advice on which KiwiSaver fund is suitable for you, please submit the KiwiSaver HealthCheck.