ASB: KiwiSaver bounces back

In the first three months of 2019, ASB’s growth fund performance was 9.11% after tax and fees, significantly higher than the -8.14% seen in the previous quarter in the same fund.

The S&P/NZX50 was up 11.7% over the same period, Australian shares 10.9% and the MSCI World Index 11%.

Morningstar said all the KiwiSaver funds it surveyed had positive results in the quarter.

ASB head of KiwiSaver Aidan Vince said the bounce back was a reminder of the long-term nature of the savings vehicle.